It's painfully obvious that cryptocurrency markets have entered a bear cycle. Let's not forget, however, that the broader tech market experienced a crash of a magnitude not seen since 2008, and we're starting to feel the implications of that.
Companies ranging from early-stage startups to the likes of Meta and Netflix have announced hiring freezes or layoffs in recent weeks as tech feels the burn of the economic downturn. Among the many challenges that this creates, hiring managers now have to find ways to support shrinking teams without hiring for in-house roles. In many cases, freelancers offer a solution for part-time support with less commitment, on both sides.
The problem is many third parties connecting freelancers with companies take a slice of the pie from both-as do third parties in most industries, as the crypto community is painfully aware. HYVE, a blockchain-based platform for freelancing services, tackles this challenge by offering freelancers a decentralized way to interact with employers.
Just this week, EQIFi, a leading regulated global DeFi services platform backed by EQIBank, partnered with HYVE to support the platform with its native $EQX token. Through the partnership, EQIFi integrated its native $EQX token into HYVE's ecosystem, expanding the selection of cryptocurrencies with which freelancers can do business on the platform. EQIFi also integrated HYVE's native $HYVE token as an option for P2P transfers on its own mobile app.
"It's simply fantastic to be able to offer multiple use cases in this integration that push the boundaries of decentralization," said Brad Yasar, CEO of EQIFi. "Supporting a platform that cuts out the middleman to empower freelancers and companies alike during a time of economic uncertainty with our token is exactly what EQIFi stands for and will continue to stand for."
Through its integration with HYVE, EQIFi empowers freelancers on the platform to earn in $EQX and other cryptocurrencies at low fees, ensuring they are adequately compensated for their work. Freelancers can use the platform to find work without owning crypto. On the employer front, companies can choose to pay freelancers in crypto without having to exchange them, ensuring no value is lost in the process.
"The accelerated shift towards online work has allowed firms to recognize the benefits of hiring freelance professionals," says Tudor Stomff, CEO of HYVE. "Apart from being more cost-effective when planning a project, it also gives access to a wider pool of talent from which companies can select. On top of that, by working with freelancers, professionals are not bound by factors such as geography, allowing a higher degree of flexibility. EQIFi joins us in our mission to take this to the next level by adding $EQX as a payment method on the platform to empower freelancers."
EQIFi makes DeFi as accessible as regular online banking, offering users a convenient platform incorporating the largest array of financial services in the DeFi ecosystem. Backed by a licensed bank, the platform grants its clients the certainty and security that comes with the highest level of regulatory compliance. Its relationship with EQIBank also positions it as the efficient gateway between DeFi and traditional finance, enabling its clients to swiftly move their assets between crypto and a variety of fiat currencies.
