Press Release
Press Release London, UK, August 31 – Reef, the layer 1 substrate-based blockchain for DeFi, NFT, and gaming, today announced that the long-awaited Reef Card is now available to people in the UK and Europe.
Reef, together with Baanx,has been an experienced partner in providing innovative an experienced partner for innovative Web3 financial solutions, and has worked with to develop and manufacture the Reef Card, which Baanx offers and is part of MasterCard’s Crypto Debit line. Due to covid, and material production delays, the cards were put on hold until this year. It is now officially available to all in the UK and EEA.
Denko Mancheski, CEO of Reef, said, “We have a good feeling about the future of Reef and have worked hard with Baanx over the past year to get the Reef Card out. We are excited to make it available now and give hodlers the opportunity to use cryptocurrency in the physical world.”
Crypto debit cards have become a hot ticket in the physical world because they add another layer of utility to the token and cryptocurrency landscape.Reef Card owners can use crypto and convert their card to Fiat only at the time of purchase and will be able to use the card at more than 90 million merchants worldwide, as well as withdraw Fiat at select ATMs. For starters, the Reef Card will soon be available on Google Play as a physical card; Apple Pay will come next; and the Fiat Card will be available on the Google Play website.
Garth Howat, CEO of Baanx, said, “It is very exciting to see more and more companies and communities adopting our solution to bridge the gap between DeFi and traditional finance. We worked hard with the Reef team on this project to ensure that the community enjoys the Reef ecosystem to the fullest!”
Reef continues to evolve and expand its blockchain and is quickly gaining momentum to become one of the top 5 Web3 blockchains. Recently, Reef launched its NFT division, participated in Dubai’s Binance Blockchain Week, and launched ReefScan V2 and the new $Reef Community Staking Bond. The ReefCard is another innovative addition to the chain and its native token $REEF rising.
About $REEF
About $REEF The substrate-based Layer 1 blockchain with smart contract capabilities provides an intuitive user experience, high scalability, low fees and Reef is the most advanced EVM-enabled blockchain with smart contract capabilities. Based on the Nominated Proof-of-Stake (NPoS) consensus mechanism, this network offers low fees and scalability, as well as native token bridges, on-chain governance, recurring payments, and a myriad of other features. Eventually, the platform will also support additional virtual machines that will allow developers to write code in several different programming languages.
About Baanx
Baanx provides Fintech services to the digital asset sector, including cryptodraft and payments {Baanx is headquartered in London, UK, with subsidiaries in Delaware, USA, Portugal and Lithuania. Baanx manages digital assets with the utmost privacy and security. The company has launched services for more than 25 top-tier clients, including , Ledger and Reef, and is managed by a skilled team with over 100 years of combined experience in banking, financial technology, cryptography, finance and digital marketing.
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