DeFi News

Quadrata Brings Digital Identity to DeFi Through Partnerships

Quadrata Brings Digital Identity to DeFi Through Partnerships

Partners will utilize Quadrata’s passport network to keep bad actors off their platforms, provide a streamlined KYC process and unlock capital efficiency for its users

Quadrata, a Web3 identity solution bringing compliance and reputation to public blockchains has partnered with nine DeFi protocols: TrueFi, Archblock, BSOS, Frigg.Eco, Cred Protocol, Chelo Finance, CR Square, Chee Finance, and SPACE. Quadrata’s passport network will provide identity verification for the users of each protocol, offering an imperative measure of safety and security.

“We believe that Quadrata is the answer.”

Quadrata’s proprietary technology verifies Know Your Customer (KYC) and Anti-Money Laundering (AML) risk score through its sybil-resistant NFT passport. Partnering decentralized applications can assess their customers’ reputations, easily onboard them to dApps using two lines of code, and present strong data points as it relates to credit reputation (on-chain and off-chain).

Latest Fintech News: MeridianLink Announces Marketing Automation Product Advancements

“The convergence of blockchain technology and digital identity is the next step to fostering broad adoption of DeFi,” said Lisa Fridman, President and co-founder of Quadrata. “As we onboard more individuals and institutions to Web3, we can create innovations that will support real-world use cases. I’m excited to see how each of our partnerships unfold over the year.”

“Cred is pleased to be partnering with Quadrata as they share our mission of bringing trust and transparency to web3,” said Julian Gay, CEO of Cred Protocol. “Bringing together identity and creditworthiness is an important step to unlocking safe and scalable access to credit within DeFi. The partnership between Cred and Quadrata will give founders and institutions confidence that they are onboarding users with a strong reputation.”

Latest Fintech News: Material Bank Expands Global Presence with Launch in Europe

Each partner offers a host of financial services, including undercollateralized and collateralized lending, decentralized credit scoring, investing, and products for DAOs such as smart contracts support, credit and money markets, software, and sustainable infrastructure financing. In the midst of a bear market, more companies are in search of solutions that better protect their customers, investors and key stakeholders, while also providing them with the information to stay ahead of competitors. Bringing digital identity to such platforms expands blockchain technology to traditional finance use cases in a compliant and privacy-preserving manner.

“It is our mission to bridge real world assets (RWA) with DeFi. In order to make RWA connect between corporations and DeFi in a trustable cross-ecosystem, Web3 identity is a vital and indispensable factor,” said Daniel Huang, CEO and co-founder of BSOS. “We believe that Quadrata is the answer.”

Related posts

OnPay Solutions Partners with oAppsNet Group to Enable AP Automation via Oracle Integration

Fintech News Desk

Open Payment Network Connects Financial Institutions to the RTP Network, Enabling Instant Payments for Customers

Fintech News Desk

Northern Trust to Provide Custody and Benefit Payments to South Shore Regional Centre for Education

Business Wire