US Fintech Current partners with Polkadot based DeFi platform Acala to launch hybrid finance solutions
Current, a leading US-based Fintech firm serving Americans who are working to “create a better future for themselves,” recently revealed that it had teamed up with Acala, a decentralized finance (DeFi) platform developed on the Polkadot blockchain network.
The partnership, which is reportedly the first of its kind, aims to create a new category of hybrid finance (HyFi) that will combine different aspects of traditional and DeFi apps.
To ensure the full “trust” of these products, Current will be operating its own infrastructure and will be joining the active validator set on the Polkadot network.
As explained by the Current team in a blog post, the integration with Acala is “built directly into Current Core, Current’s proprietary core banking platform.” Current Core has been designed to bridge “closed-loop” fiat systems to open platforms. This should help with expediting the development of HyFi infrastructure “designed to deliver value to Current’s nearly three million members.”
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