See More

Brave to Launch New DeFi Accessible Wallet with DEX

1 min
Updated by Kyle Baird
Join our Trading Community on Telegram

In Brief

  • Brave aims to enhance DeFi and cryptocurrency accessibility through new services.
  • New wallet will unify Brave rewards and user accounts.
  • A new decentralized exchange (DEX) will also be introduced.
  • promo

Brave has announced new features to make cryptocurrency more accessible to its users while expanding the utility of its native Basic Attention Token (BAT).

Brave is rolling out new services to bridge the gap between its users and the cryptocurrency and DeFi market and has disclosed plans to launch a new wallet.

The Brave wallet will feature a simpler user interface and will be available on both mobile and desktop platforms. Users will be getting options to purchase a variety of different cryptocurrencies directly through the wallet. Payment options will include fiat through debit cards, bank accounts, and smartphone wallets.

In the future, BAT earned from rewards may be accepted as payment for transaction fees on the wallet. This should provide another utility for the token which presently fuels the Brave browser ecosystem.

BAT Token

The team also announced plans to delve into the booming DeFi market by launching a decentralized exchange alongside the wallet. The Brave DEX Aggregator will enable token swaps and facilitate the utility of its native BAT.

The multi-chain support on Brave’s decentralized exchange will provide users a near-limitless option of assets to swap. This is an improvement on major single-chain decentralized exchanges that allow swaps of only tokens on the same protocol. Liquidity providers on the Brave DEX will be rewarded with BAT for funding the liquidity pool.

Users will receive discounts for paying transaction fees in BAT and will receive discounts for holding it.

As part of its efforts to achieve a decentralized web, Brave will commence research on ways to integrate BAT with search engines, virtual private networks (VPN), and e-commerce.

These new services are expected to rapidly expand the utility of BAT. According to Brave’s report last month, over 13 million BAT reward wallets have been created since its inception. It also boasts over 25 million monthly users and one million verified publishers.

Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Exodus Exodus Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Exodus Exodus Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

Daniel_Okorafor.jpg
Daniel Okorafor
Daniel is an avid blockchain and cryptocurrency enthusiast. He gained interest in the digital asset space in 2017. Since then, he started writing educational content to spread the word on the distributed ledger technology.
READ FULL BIO
Sponsored
Sponsored