German Fintech Startup Paycer Will Combine DeFi, Crypto With Conventional Banking Services


Innovative bridge protocol will allow retail customers to reap the rewards of the lucrative decentralized finance ecosystem

HAMBURG, Germany, 03 Dec. 11, 2021 (GLOBE NEWSWIRE) — Paycer, a Hamburg-based financial services company specializing in cryptocurrencies and decentralized finance (DeFi), is currently developing a bridge protocol that will aggregate cross-chain DeFi and crypto services and combine- them with traditional banking services. Scheduled to go live in early 2022, the protocol will feature a range of new financial products designed to help retail clients reap the rewards of the DeFi market.

“Using DeFi can be quite difficult, even for those in the IT industry. Our mission is to bring high DeFi returns to retail clients who have not yet invested in cryptocurrency,” says the Paycer CTO, Nils Gregersen. “We are also targeting investors who are already in crypto, but still haven’t jumped on the DeFi bandwagon.”

Offering full interoperability across multiple blockchains, the protocol and platform will include the full suite of financial services, including crypto wallets, bank accounts, loans, liquidity pools, and most importantly, simplified access to the lucrative DeFi market.

High Interest Rates in a Low Interest World

One of the most attractive features of the platform is that it promises to offer exceptionally high interest rates. In today’s low-interest financial environment, this will provide relief to many retail investors, who will be able to use the Paycer protocol to mine DeFi and thus generate viable passive income.

“Many people these days see their savings gradually dwindle because they don’t earn any interest. In fact, they lose about 2-5% of their wealth each year to inflation,” says Gregersen. “Decentralized finance, on the other hand, offers excellent interest rate opportunities, while having the added advantage of not being dependent on banks.”

Since cryptocurrencies are notoriously volatile, some investors may have reservations about diving into the DeFi market, which is still a relatively new phenomenon. The Paycer platform, however, will help users mitigate risk by assessing the viability of new DeFi products before investing in them. It will also perform several checks in advance, automatically weeding out users’ assets from any investment deemed too risky.

Enter PCR: payer utility token

As part of the rollout of its DeFi protocol, Paycer will also offer a utility token (PCR), which will generate real value for users of the platform, where token holders will enjoy voting rights. Four percent of these tokens are available for pre-sale (at a discount), and an additional 5 percent will be offered in a subsequent public sale.

By staking PCR tokens on the Paycer DeFi platform, users can earn staking rewards. Additionally, Paycer will use a portion of the profits it makes for token buybacks, ensuring stable demand – and stable prices – for its flagship cryptocurrency.

“Since Paycer believes in a regulated implementation, the PCR utility token was designed in accordance with applicable German financial laws in cooperation with a law firm specializing in blockchain. The token was also sent to the Federal Authority German Financial Supervisory Authority (BaFin) for review,” says Gregersen.

How to Participate in the Paycer Presale

To participate in the PCR token presale, you must visit the Paycer website: there you can request the sale and process your KYC through Blockpass. KYC is required because Paycer is a legal German company and complies with money laundering and anti-terrorism laws. Once the KYC has been processed, users will receive an email with further instructions from Paycer.

Why is CeDeFi and regulation necessary for mass adoption of DeFi?

Experienced crypto investors are used to accepting higher risks with their investments. They are also used to investing large sums in new platforms and anonymous teams. Using their own wallet and various blockchain networks is also no problem for advanced crypto users. But for private customers all this will not work, when the first private keys are lost the anger will be great. Retail clients also won’t invest a lot of money in hidden DeFi platforms, as they likely think crypto is a scam anyway. Therefore, for mass adoption, setting up fiat on-ramp and crypto custody are necessary to reduce complexity. Regulation will be necessary to build trust among retail customers so that they have confidence in new decentralized financial products.

Why will Paycer’s approach be successful?

Paycer focuses on ease of use and regulation when developing its products from day one. The Paycer team is thus pursuing its long-term vision for the company and will thus be able to gain the confidence of investors and customers. We are convinced that CeDeFi will establish itself in the medium and long term and that Paycer will have already secured a good market position by then.

What is the difference between Paycer and other DeFi products?

Many DeFi products are run by anonymous teams from somewhere in the world. For these platforms, rapid development and high interest rates are more important than the long-term success of the platform. Paycer strives to establish itself as a reliable and secure DeFi and CeDeFi brand for the long term. The Paycer team takes the hardest route in order to work within the law. But it will be in this way that can open the DeFi market to the majority of people.

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Company: Paycer UG

Contact: Richard Vo, CEO

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