RIF Product Suite Built on Rootstock Provides Users Access to Everyday DeFi

To make the Rootstock and RIF ecosystem more accessible to mainstream users, IOV Labs and Buenbit have teamed together. Users of Buenbit will have access to services and products from Everyday DeFi that are secured by the Bitcoin network.  In many respects, this is seen as a huge advancement by both firms.

As part of its primary services, Buenbit incorporates the Rootstock Blockchain and the RIF Product Suite. Users of Buenbit are able to make purchases, save money, and borrow money using Bitcoin without ever having to leave the Buenbit app. Using the RIF Product Suite, Rootstock’s EVM compatibility and IOV Labs’ white glove assistance ensures a quick and simple integration. As a consequence, the combined efforts of these two businesses will benefit their respective customers across Latin America.

Everyday DeFi is made a reality through RIF technology. Everyday DeFi, as it is put into operation, consists of smooth payments for small companies, inflation-proof savings, transfers that make it simple and inexpensive to move money around, and loans that provide access to capital for basic economic development. All are accessible via user-friendly interfaces and are denominated in stablecoins.

All Rootstock native tokens, including RBTC, RIF tokens, and RDOC, will be made accessible through the Buenbit platform as part of the integration.

IOV Labs President and COO Daniel Fogg adds:

“In these challenging economic times, people in countries like Argentina, Peru, and Colombia want to use crypto to pay their bills, receive their salary, send money overseas, and lend/borrow at fair rates in a safe, secure way, all using real stablecoins. This is the era of Everyday DeFi. We believe RIF Technology running on Rootstock is the best way to build for Everyday use cases due its interoperability, low cost, and inherent security. We are expanding the types of products Buenbit can offer and helping Buenbit do what they do best – Everyday DeFi. We are thrilled to enter this strategic partnership with Buenbit.”

Federico Ogue, CEO of Benbit, commented “Thanks to the integration with IOV Labs, we will be able to keep working on creating simpler and friendlier solutions so that our users will incorporate more effective ways of handling their finances.”