The Abu Dhabi-based branch of Brevan Howard Digital, the crypto division of global investment management firm, has deployed $20 million to Kinto, a blockchain platform designed for institutional participation in distributed finance (DEFI). did.
The deposit will make Brevan Howard Digital one of the first traditional financial companies to leverage Kinto’s on-chain mining program, Protocol said.
Kinto operates as an Ethereum Layer 2 network with built-in compliance mechanisms, including knowledgeable customer (KYC) and anti-money laundering (AML) protocols, with strict regulatory requirements for participating in distributed finances promote financial institutions facing. It also offers a smart contract wallet with default insurance and enhanced security.
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The platform’s mining programme is scheduled to run for 10 years and encourages participants by handing out token rewards to deposit assets into the chain to the Kint. Mining programs have been a staple in the debt sector, but compliance hurdles have left them almost out of reach for traditional financial institutions.
According to Kinto’s co-founder and CEO, Brevan Howard Digital’s participation will raise interest from legacy blockchain-based finance companies, particularly as platforms like Kinto adapt to Ramon Recuero, an institutional need. indicates. “The institutions are waiting for two things: regulatory clarity and compliance functions. Now, through Kint, financial institutions don’t have to wait anymore,” he said in a statement.