Brave to Launch New DeFi Accessible Wallet with DEX
2 min readBrave 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.
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.
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