German Fintech and DeFi Startup Paycer BaFinTech 2022 Recap
While most of the Paycer team joined the OMR Festival in Hamburg during the last days. Helge Ippensen, co-founder and CRO of Paycer traveled to Berlin to participate in the BaFinTech 2022. This event was hosted by the German Federal Financial Supervisory Authority “BaFin” and the Central Bank of the Federal Republic of Germany “Bundesbank”. The fact that the event was organized by the most important German financial authorities and regulators highlights its relevance. Because Helge Ippensen has a legal background and besides his involvement at Paycer he also works for German authorities he was the perfect match for this event.
The BaFinTech 2022 took place on the 18th and 19th of May 2022 in Berlin. There was a lineup of well-known speakers with a high reputation in the financial sector and German officials. One of this speakers was Peter Grosskopf (Co-Founder/CTO at Unstoppable Finance | ex CTO at Börse Stuttgart Digital Exchange | ex Co-Founder/CTO at Solarisbank), Helge also had the chance to talk with Peter Grosskopf on the event about DeFi, CeDeFi and regulation.
Helge also talked with Burghard Balz - Bundesbank Director for Payments who was also a speaker at the event. In summary, the event was a good success from Paycer’s point of view, and Helge was able to make full use of his qualities as a networker and connected with many people from the finance sector. It was a great opportunity to exchange ideas directly with the regulators and learn more about the current status of the legislation.
Paycer takes the topic of DeFi regulation very seriously and is working on a CeDeFi platform that will allow retail customers to invest directly in DeFi without any additional steps. We will continue this path and promote regulated DeFi and CeDeFi in Germany, Europe and other regions.
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Paycer’s goal is to aggregate DeFi investments multi-chain and make them available to users without the need for their own wallet nor the expertise. This should allow anyone to generate a passive income in a world where banks no longer pay interest. Hence the Paycer team is developing a bridge protocol for DeFi and TradFi to combine the best of both worlds and make it available for retail clients #CeDeFi. Apart from the technical matters and the creation of a super easy to use final product. The goal is also to create a regulatory framework that allows the legal operation of a DeFi platform within the EU first and subsequently in other regions.
Currently, a DeFi platform is already available on paycer.finance on which Paycer tokens PCR can be claimed and staked. More features will go live soon. At the moment on Polygon but other blockchains will be integrated in the near future. Paycer is also working on a banking partnership to be able to combine DeFi with a traditional bank account. In addition to the development of the DeFi platform, the development of the final consumer product is also in progress.
Be sure to follow Paycer on social media for all the latest updates on product development. We have further exciting announcements to share very soon.