Institutions Invade DeFi: Traditional Firms Get in on the Action 🚀
What’s the Buzz, Then?
- Asset manager Brevan Howard Digital’s Abu Dhabi branch has allocated $20 million to Kinto, an on-chain financial network built on top of Ethereum. Because who doesn’t love a good blockchain party?
- Kinto integrates compliance features such as KYC and AML at the blockchain level, because institutions need to keep their dirty laundry clean.
- The investment marks a growing trend of traditional finance firms engaging in DeFi ecosystems. Because who needs boring old banking when you can have blockchain-based shenanigans?
Brevan Howard Digital’s Abu Dhabi branch has decided to join the cool kids’ club and deployed $20 million on Kinto, a blockchain platform designed for institutional participation in decentralized finance (DeFi). Because who doesn’t love a good game of blockchain bingo?
The deposit makes Brevan Howard Digital one of the first traditional financial firms to tap into Kinto’s on-chain mining program, the protocol said. Because mining programs are all the rage, and who doesn’t love a good cryptocurrency treasure hunt?
Kinto operates as an Ethereum layer-2 network with built-in compliance mechanisms, including Know-Your-Customer (KYC) and Anti-Money Laundering (AML) protocols. Because institutions need to keep their dirty laundry clean, and who doesn’t love a good game of regulatory whack-a-mole?
The platform’s mining program, set to run for a decade, incentivizes participants by distributing token rewards for depositing assets on-chain on Kinto. Because who doesn’t love a good cryptocurrency giveaway?
Brevan Howard Digital’s participation signals growing interest from legacy financial firms in blockchain-based finance, particularly as platforms like Kinto adapt to meet institutional needs. Ramon Recuero, Kinto’s co-founder and CEO, said, “Institutions have been waiting for two things: regulatory clarity and compliance features. Now, through Kinto, financial institutions don’t need to wait any longer.” Because who doesn’t love a good dose of regulatory clarity and compliance features with their blockchain-based shenanigans?
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2025-02-17 17:08