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
MARINA DEL REY, Calif.–(BUSINESS WIRE)–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.
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).
“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.”
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.”
Quadrata is interested in partnering with DeFi protocols that are building on the Ethereum and Polygon blockchains for compliance-aware solutions. To learn more please visit quadrata.com.
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About Quadrata:
Quadrata is a web3 company bringing the identity and compliance layer to decentralized applications on existing public blockchains such as Ethereum. Quadrata’s privacy preserving and sybil-resistant technology allows smart contract applications native on-chain access to information such as DID, KYC/AML risk scores and country, as well as credit reputation and accredited investors status in the future. Quadrata spun out from Spring Labs with a continued commitment to developing and promoting blockchain-based technologies. To learn more about Quadrata, visit www.quadrata.com or follow along on Twitter at @QuadrataNetwork.
About TrueFi
TrueFi is DeFi’s first credit-based lending protocol. TrueFi brings collateral-free lending on-chain, maximizing capital efficiency for borrowers and earning rates for lenders. To learn more about TrueFi, visit https://truefi.io/.
About Archblock
Archblock bridges institutional capital to DeFi’s modern financial infrastructure. As a core TrueFi contributor, Archblock brings institutional lenders and fund managers on-chain to make global lending more transparent, effective, and accessible. To learn more about Archblock, visit https://www.archblock.com.
About BSOS
BSOS is a B2B supply chain fintech company solving the asset liquidity problem by blockchain and DeFi. BSOS uses blockchain to form trusted real-world assets to help businesses get liquidity, and realize high efficiency asset transactions. To learn more about BSOS, visit https://www.bsos.co/.
About Frigg.Eco
Frigg.eco is a sustainable finance provider that works with blue-chip renewable developers and operational assets. We help them access re-financing via crypto by issuing green bonds on-chain. Our vision is to streamline how sustainable financing is done, from origination, securitization, and financing to post-financing follow-up. To learn more about Frigg.eco, visit https://www.frigg.eco/.
About Cred Protocol
Cred Protocol is a decentralized credit score that quantifies lending risk at scale bringing trust and transparency to web3. Lending protocols, identity protocols and fintechs use Cred’s score to qualify applicants and offer capital-efficient loans. Our mission is to safely onboard the next one billion crypto users. To learn more about Cred Protocol, visit https://www.credprotocol.com/.
About Chelo Finance
Chelo Finance is a Web3 financial system for DAOs to provide financial products using their treasury. We offer audited smart contracts that allow DAOs to lend to their members through a voting mechanism. To learn more about Chelo Finance, visit https://chelo.fi/.
About CR Square
CR Square is leading financial transparency to the Web3 community, building applications based on community audit, due diligence and arbitration functions using on-chain validation of “proof of expertise” of independent subject matter experts. To learn more about CR Square, visit https://crsquare.finance/.
About Chee Finance
Chee Finance is a multi-chain money market that supports various networks and allows users to borrow assets using ERC20 tokens, DeFi liquidity pool tokens, governance tokens, and loan tokens as collateral. It also supports financial NFTs and has integrated on-chain KYC and credit scoring to mitigate lending risks and increase capital efficiency. To learn more about Chee Finance, visit https://www.chee.finance/.
About SPACE
SPACE is a social commerce metaverse. It is a user-owned immersive 3D social platform. The user is the hero and has all tools needed to build businesses, create rich VR experiences, collaborate with other users, and earn through contributions to the ecosystem and businesses in it. To learn more about SPACE, visit: https://www.tryspace.com/.
Contacts
Holly Dugan
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