Well, well, well! Look who just got a fat check! Kinto, the on-chain financial platform that’s as popular as a cat video on the internet, just snagged a jaw-dropping $20 million from Brevan Howard Digital! That’s right, folks! The digital assets division of a big-shot investment firm is putting their money where their mouth is! 💰
This funding has made Brevan Howard Digital one of the first traditional firms to trust the potential of Ethereum L2’s on-chain reward program offered by Kinto. Who knew they’d take a leap into the wild world of DeFi? It’s like watching your grandma try to use TikTok! 😂
To develop on-chain mining program
As the only L2 with native Know Your Customer (KYC) and Anti-Money Laundering (AML) at the blockchain level, Kinto is on a mission to bridge the gap between traditional finance and decentralized finance (DeFi). Think of it as the modular exchange that’s more secure than a vault at Fort Knox! With its non-custodial and insured wallet, Kinto is giving users access to a buffet of DeFi opportunities with maximum security. 🍽️
Now, what’s Kinto going to do with all that cash? Well, they’re probably going to throw a party! Just kidding! They’ll likely use it to support their on-chain mining program. By integrating these funds into the mining program, Kinto aims to attract more institutional participants, enhancing the platform’s liquidity and creating a DeFi ecosystem that’s as robust as a bodybuilder on protein shakes! 💪
We are happy to share that @BHDigitalAssets deployed $20m in assets on Kinto, participating in our mining program. 🎉
Read more in the press release:
— Kinto (@KintoXYZ) February 17, 2025
Traditional firms entering DeFi space
Traditional financial institutions are increasingly exploring decentralized finance (DeFi) to leverage blockchain technology while maintaining regulatory compliance. Firms like Brevan Howard Digital and Goldman Sachs are investing in DeFi startups, liquidity pools, and on-chain platforms like our buddy Kinto. It’s like a financial game of musical chairs, and everyone wants a seat! 🎶
In a move towards supporting tokenized Securities & Bonds, JPMorgan, BlackRock, and HSBC are issuing blockchain-based bonds and mutual funds to facilitate instant settlement and reduce costs. It’s like they finally figured out how to use online banking! 🏦
These traditional institutions are developing KYC-compliant liquidity pools, like Aave Arc, allowing regulated institutions to join the DeFi lending/borrowing party. And let’s not forget banks like Standard Chartered, BNY Mellon, and Fidelity, who are now providing custody services for digital assets. It’s like they’re finally getting with the times! 📈
Using the efficiency of Blockchain-Powered Settlement Networks, JPMorgan is using Onyx blockchain for cross-border transactions – establishing a trend that’s accelerating faster than a kid on a sugar rush! More institutions are seeking to benefit from DeFi’s automation, cost savings, and new revenue models. It’s a financial revolution, folks! 🎊
Read More
- Mr. Ring-a-Ding: Doctor Who’s Most Memorable Villain in Years
- Luffy DESTROYS Kizaru? One Piece Episode 1127 Release Date Revealed!
- Top 8 UFC 5 Perks Every Fighter Should Use
- How to Get the Cataclysm Armor & Weapons in Oblivion Remastered Deluxe Edition
- Nine Sols: 6 Best Jin Farming Methods
- You’re Going to Lose It When You See the Next Love and Deepspace Banner!
- Get Ready for ‘Displacement’: The Brutal New Horror Game That Will Haunt Your Dreams!
- Prestige Perks in Space Marine 2: A Grind That Could Backfire
- Choose Your Fate in Avowed: Lödwyn’s Ruins or Ryngrim’s Adra?
- Invincible’s Strongest Female Characters
2025-02-18 20:21