After a year of stealth development, x.com/lava_xyz”>Wash is introducing the first two of its suite of financial products, Lava Free Pay and Lava Exchange, set to transform the way we handle digital dollars and access to bitcoin. In a conversation with bitcoin Magazine, Lava CEO Shezhan Maredia provided an in-depth look at what these new offerings bring to the table and how he hopes they can redefine the mobile self-custody experience.
Lava Free Pay: Liberating global payments
The promise of digital dollars has always been that of seamless global payments. However, Maredia maintains that the current user experience is insufficient. “Imagine if every time you wanted to send money on Venmo, you had to first purchase volatile VenmoBucks, incurring fees, and then pay an additional transaction fee on those same volatile VenmoBucks.”
Lava abstracts away those issues to give bitcoin users seamless access to stablecoins. “The traditional friction of having to deal with other chains has been completely eliminated. No unnecessary details are exposed in the application.”
Lava Free Pay is a trusted streaming service for users that provides the best stablecoin integration of any bitcoin wallet on the market. This innovation unlocks free, instant, global payments, making digital dollars more convenient and accessible for everyday use.
Maredia explains that it plans to support multiple networks and eventually allow users to send payments across all of them. “bitcoin-based alternatives may be considered once they mature.” These updates will be seamlessly integrated into Lava's existing infrastructure, ensuring that users don't have to worry about technical details.
Lava Exchange: Your gateway to self-custodial asset management
Navigating the world of bitcoin and digital assets can be overwhelming, especially when it comes to finding the best exchange rates and lowest fees. Lava Exchange addresses this challenge by allowing users to purchase assets directly for self-custody and withdraw money to their bank accounts with minimal fees.
“We thought carefully about how to offer users an affordable and convenient way to join Lava autonomously,” says Maredia.
After considering all the options on the market, his team decided to create their own exchange aggregator. Using your location and market data, Lava can connect you with the exchange that offers the best rates and lowest fees for your desired transactions. Those services are directly integrated into Lava Vault, reducing the steps required for the user to acquire bitcoin.
“We believe people should continue saving bitcoin and spending dollars and we want to give them the best tools to do so. “I built Lava for those who live a bitcoin-based lifestyle.”
Under the hood, Lava is supported by a next-generation self-custody solution called Lava Smart Key. Leveraging a decade of mobile bitcoin development, Maredia believes his company offers the most secure mobile key escrow system available today.
Lava plans to continue launching new products and is already preparing to launch its long-awaited lending protocol using trustless bitcoin smart contracts.
Users can start by downloading Lava Vault from the App Store at iOS either Androidor visiting lava.xyz.
