XEM is the native forex of the NEM NIS1 public blockchain which is used to pay for transactions to incentivize the community of public nodes that course of and document transactions. The partnership between the businesses is anticipated to offer a seamless cryptocurrency on/off ramp for XEM, and lending and borrowing choices through PlasmaPay’s modern digital cost platform.
“We’re proud to companion with PlasmaPay as it will vastly profit our neighborhood members, each by way of quick access, through fiat on/off ramps, but additionally the longer-term for individuals who wish to take part within the DeFi market. PlasmaPay is an intuitive platform that makes it easy for customers to take part in cryptocurrency. The partnership additional strengthens the NEM ecosystem and community going ahead. We sit up for working with PlasmaPay intently over the approaching months,” mentioned Iain Wilson, CFO for NEM Group.
The long-term alliance between PlasmaPay and NEM will see the mixing of XEM liquidity mining swimming pools, together with wXEM/USDT and wXEM/ETH to PlasmaSwap, PlasmaPay’s token swapping service, enabling decentralized buying and selling, lending and borrowing companies. The NEM ecosystem has plans to launch Image, a trusted and safe enterprise blockchain, within the first quater of 2021, which is able to proceed to run alongside the NEM NIS1 blockchain.
“NEM has been a mainstay within the trade, with a concrete expertise stack, a myriad of proof of ideas and partnerships with governments and repayable establishments. The XEM token is an important asset to the ever-growing PlasmaPay and Plasma.Finance ecosystems.
Bringing XEM into our ecosystem will add additional top-level performance for PlasmaPay and Plasma.Finance. We’re delighted to be working with NEM, one of the spectacular tasks within the cryptosphere. We’re sure that our neighborhood will profit drastically from this partnership sooner or later,” mentioned Ilia Maksimenka, CEO of PlasmaPay.