SUKU Releases Social Impact DeFi Protocol with the Goal of Supporting Those Underserved by Traditional Financial Systems
SUKU DeFi brings microfinancing to the unbanked and others who can benefit from access to decentralized financial services.
SUKU, a blockchain-based, supply chain transparency solution, releases SUKU DeFi. The social impact protocol serves as the foundation for SUKU’s microfinancing ecosystem to support the unbanked and underserved.
SUKU is a leader in helping brands and retailers meet growing demands from conscious customers for supply chain transparency. SUKU DeFi will be key to encouraging participation from the smallest suppliers—local farmers and craftsmen—who are often one of the first steps in a product’s journey.
“A significant amount of resources is being locked-up in various DeFi protocols right now, and SUKU DeFi should create demand on the borrowing side from participants in need of actual DeFi,” said Yonathan Lapchik, CEO of SUKU. “We are very pleased to release SUKU DeFi with the goal of providing those who have been disenfranchised from traditional finance with access to key services, including microlending. Brands and retailers can show support for social impact initiatives by making SUKU DeFi available to their suppliers as well.”
When a supplier provides data inputs to the SUKU Ecosystem to verify product transparency, they will gain access to DeFi services through the SUKU DeFi protocol. This capability could provide many small farmers, local craftspeople, and others underserved by the traditional financial industry with new potential revenue streams and access to financial services that would not otherwise be available to them.