Public Mint Partners With Knit Finance
Fiat-native public blockchain ecosystem, Public Mint signed an alliance with Knit Finance a cross-chain interoperability provider.
The partnership will enable Public Mint’s native USD to be used across blockchains, like Binance Smart Chain, Polygon and many Polkadot parachains.
“We want to connect Public Mint with as many existing blockchains as possible, expanding our user base and awareness of our platform.We are excited to have Knit Finance as our partner to fulfill our vision of interoperability. Given our focus on user safety, we’re happy to work with a team that understands the importance of using comprehensive insurance.~Paulo Rodrigues, CEO of Public Mint
Knit Finance is an interoperability platform geared towards institutional use. It makes use of traditional financial insurance to cover the assets it holds in custody while bridged, ensuring that wrapped kTokens are always fully backed on any blockchains where they are minted.
“The current ecosystem of EVM blockchains is heavily reliant on Ethereum, meaning that users need to pay its enormous fees if they want to transfer assets across some of the newer, more performant platforms.By integrating Public Mint we are creating a truly interconnected ecosystem for earning yield without being limited by scalability.”~Sainath Gupta, CEO of Knit Finance
By deploying its USD across multiple chains, Public Mint users will be able to take advantage of lucrative opportunities in DeFi on a number of popular blockchains outside of Ethereum, including Binance Smart Chain and Polygon
ABOUT Public Mint
Public Mint is a complete platform for synthetic fiat that is fully collateralized, regulated and FDIC-insured
ABOUT Knit Finance
Knit Finance is a decentralized system unlocking the full potential of DeFi using cross-chain wrapped assets. The Polkadot-based protocol combines synthetics across multiple chains, bridges, and real-world markets with yield, lend, trade, and margin services through smart contracts
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