Paycer Update: Banking, DeFi, Rebranding, App, NFT and Metaverse

7 min readAug 21, 2022

Hamburg, Germany 21/08/2022, The Paycer team has been working hard during the last months and can show several achievements on our journey to build a CeDeFi platform. In late July we signed the first contract with our banking partner that will enable us to provide full bank accounts, crypto trading, VISA cards and more. The Paycer team is currently working very focussed on developing the Paycer CeDeFi app. In addition, our own 3D NFT is also close to be finished; but more about that later. The following article provides an update on various Paycer topics.

Rebranding

In the last few months, we have invested a lot of time and energy on brand building and marketing strategies in order to be able to position Paycer optimally in the future. We worked with a brand-building and marketing agency from Singapore and conducted several online workshops. In addition, we also conducted workshops internally within the Paycer team. The result of this process is a rebranding in terms of colors and brand message. In the future, Paycer will appear with a fresh lime yellow, black and white. These colors are currently little used in the FinTech sector and Paycer can stand out from the crowd and look a little cooler but still legitimate.

In order to onboard retail customers in the DeFi space, it will not be sufficient to focus only on CeDeFi. Most retail customers are currently not even aware of the existence of DeFi or CeDeFi. Imagine a billboard in the promenade advertising DeFi; almost no one would understand what it’s all about. Therefore, we will promote Paycer in the retail sector primarily as a crypto enabled neobank, because cryptocurrencies are something that more people can relate to now. The goal is to win the customer over and to build trust; the customer will then find out that we have much more to offer.

The rebranding will also be applied on our websites and in our communication in the near future.

Paycer Super App

The Paycer app will become a finance super app, which means that customers will be able to manage their entire finances with this app. What exactly does that mean? The app will provide customers with a complete bank account for which additional virtual sub-accounts can be created to better manage their own finances. In addition, the user can receive a VISA debit card that also allows crypto payments. Crypto currencies can be bought or sold and stored in a custody wallet without the customer having to remember a private key; which greatly simplifies the process. There will also be ETFs with different risk profiles and automatic balancing. At a later stage, single stocks are planned as well.

But what about DeFi or CeDeFi? We will integrate a DeFi wallet into the app, where the customer will have various options such as swaps, liquidity mining or staking. We will continuously expand these DeFi functions and integrate them as seamlessly as possible into the app.

Here we have also simulated several scenarios and weighed the pros and cons. The near past has shown that it is best if the customer holds the private key himself and can withdraw his investments at any time and enjoy full transparency. The case of 3AC and especially Celsius Network have shown that frozen withdrawals are a very big problem of too centralized platforms and violate the principles of DeFi. This has also become a major problem for NURI, another German banking provider that has worked closely with Celsius. Therefore, our DeFi wallet will be a self-custody wallet, so that the customer has full control.

The app is expected to be fully developed in December of this year. A closed operation for a maximum of approx. 1000 users is planned for Q1 2023. After that, the app will be released to the public.

The app is already styled in the new Paycer design:

Paycer Debit Card

The Paycer card will have some cool features, such as discounts and benefits, but also cashback in PCR tokens. There will be a standard plastic card for normal customers and metal cards for the four different loyalty tiers of PCR token holders. The different loyalty tier cards will bring different benefits and conditions. For the cashback rewards we plan to use different partnerships and affiliate systems in the background to get discounts. These discounts will then be used to buy back PCR from the market and distribute it to the customer as cashback rewards in tokens. The Paycer card will also allow customers to pay with their cryptocurrencies wherever VISA is accepted. Another cool feature will be the link to the Paycer NFT. furthermore, NFT holders will be able to order a card with their exact NFT on it. This custom card will be unique and a special statement of identity. We can’t wait to go shopping with that card.

Paycer Loyalty Tier Cards with NFT customization

Paycer NFT

The development of the Paycer NFT is very close to completion and it won’t be long before we can launch it. We will launch an NFT with extremely high quality and many utilities. The Paycer NFT is ready for Metaverse. The buyer does not get a 2D graphic or a video but a complete 3D model that can be viewed from all sides. At paycer.finance/nft, four example Paycer NFTs can already be viewed and moved in 3D using the browser. We will soon be doing some modifications on the NFT page and launch a very special video that will catch many by surprise. We can currently also sense that there is a great interest in the Paycer NFT card since this brings the NFT into the real world.

Another interesting detail for PCR holders should be that the NFT can be upgraded by using PCR tokens. This will unlock additional functions, utilities and visual enhancements. Stay tuned.

Metaverse and GameFi

The Paycer NFT was also created with the advice of game developers to allow easy integration with Metaverse and GameFi projects. Therefore, we have also consciously decided directly for a 3D NFT. To ensure that these are not just empty promises, Paycer has teamed up with REACH. The cool thing is that REACH has already built a 3D Metaverse and is expanding it. REACH will build Paycer’s own Metaverse space; a sort of Paycerverse, where the user can ride through the landscape with his Paycer NFT and chat and interact with other users. In the future, this space can be developed further; possibly a horse race where PCR can be bet? We think it will be best if the NFT holders decide about the further development in the future.

Furthermore, we are currently in contact with a GameFi project that will soon launch a cool 3D game with NFT integration. It is planned that the Paycer NFT will be integrated there as well.

In the near future we will put a lot of focus on the NFT in our marketing. After that, the main focus will be back on banking and CeDeFi. But don’t worry; we are mainly focusing on the app development in the background. The next few months will be exciting.

We hope you liked the update,
your Paycer Team

About Paycer

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.