Public Mint
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Public Mint

Public Mint Partners with Knit Finance to Bring FDIC-insured USD to other Blockchains

The partnership will enable Public Mint’s native USD to be used across blockchains, like Binance Smart Chain, Polygon and many Polkadot parachains.

Public Mint, a fiat-native public blockchain ecosystem, has partnered with Knit Finance, a cross-chain interoperability provider, to bridge Public Mint’s USD to other blockchain platforms, including Binance Smart Chain, Polygon and many Polkadot parachains.

Knit Finance is a generalized token wrapping service working with EVM-compliant blockchains, which includes a vast number of platforms used in decentralized finance (DeFi). Public Mint, an independent blockchain based on a modified version of Hyperledger Besu, will be able to tap into Knit Finance’s network to connect with all chains supporting the EVM, in addition to the existing Ethereum bridge maintained by 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.

As part of the partnership, Public Mint will assist Knit Finance in deploying Public Mint USD to the Knit network using Public Mint’s APIs. Public Mint uses USD as the native token of its blockchain, backed by FDIC-insured fiat USD deposits.

“We want to connect Public Mint with as many existing blockchains as possible, expanding our user base and awareness of our platform,” said Paulo Rodrigues, CEO of Public Mint. “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.”

“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,” said Sainath Gupta, CEO of Knit Finance. “By integrating Public Mint we are creating a truly interconnected ecosystem for earning yield without being limited by scalability.”

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. The integration will also simplify access to the Public Mint blockchain, allowing users from other platforms to deploy their capital in Public Mint EARN, a comprehensive yield aggregation strategy that leverages opportunities both in DeFi and CeFi, while using multiple layers of insurance.

About Public Mint

Public Mint is a complete platform for synthetic fiat that is fully collateralized, regulated and FDIC-insured. Public Mint offers an open fiat-native blockchain and APIs, ready for anyone to build fiat-native applications and accept credit cards, ACH, wire transfers, stablecoins and more. Public Mint’s EARN platform offers users automated and diversified yield on USD assets, leveraging the power of DeFi.

Telegram :https://t.me/PublicMint

Twitter : https://twitter.com/PublicMint

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. Any digital, lockable asset can be leveraged with Knit Finance by generating equivalent tokens in a 1:1 ratio, unlocking billions of dollars and trade access.

Telegram : https://t.me/KnitFinance

Twitter : https://twitter.com/knitfinance

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