CURRENT AND ACALA ANNOUNCE PARTNERSHIP.
Current, a leading U.S. financial technology company serving Americans who are working to create a better future for themselves, today announced its partnership with Acala, a decentralized finance platform built on Polkadot. The partnership, the first of its kind, establishes a new category of hybrid finance (HyFi) that combines both traditional and decentralized financial applications.In order to ensure full trust of these products, Current will run its own infrastructure and join the active validator set on the Polkadot network. The integration with Acala is built directly into Current Core, Current’s proprietary core banking platform, which is designed to bridge closed-loop fiat systems to open platforms. This will expedite development of HyFi infrastructure designed to deliver value to Current’s nearly three million members.
About Current
We are a leading U.S. financial technology company serving the needs of Americans who are working to create a better future for themselves. Our mission is to enable members to change their lives by creating better financial outcomes. Leveraging the best technology, we deliver inspirational and motivational products as we all move forward in a world of increasing digitization and complexity.
About Acala
Acala is an all-in-one decentralized finance network offering a blockchain platform secured by Polkadot, as well as a suite of cross-chain financial applications that let users trade, issue self-serviced loans, become liquidity providers, access staking derivatives, and earn high-interest APY on their digital assets. The network is scalable, Ethereum-compatible, and optimized for DeFi.
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