Knit Finance and the Public Mint are teaming up to create wrapped tokens
Knit Finance is pleased to announce its cooperation with Public Mint, a fiat-native blockchain platform that runs on synthetic USD and accepts funds from licensed, FDIC-insured financial institutions.
Knit Finance is a decentralized system that allows users to create cross-chain wrappers for the top 200 assets.
The Public Mint token will be incorporated into Knit Finance’s multichain platform to issue wrapped tokens that will be available on multichain as a result of this relationship.
Synthetic USD Wrapped for Cross-Chain Transactions
Public Mint provides a fiat-native blockchain, APIs, and a web widget that may be embedded. It enables developers to create fiat-enabled apps that accept credit cards, ACH, wire transfers, and other forms of payment.
Knit Finance’s multichain APY optimization allows users to optimize DeFi yields. Knit users can employ insured custody to increase collateral security and gain access to wrappers for their whole portfolio. Knit Finance supports the k token standard, which is a token wrapper for assets maintained under insured custody.
This partnership will allow Public Mint to be integrated into its multichain platform, making it available on multiple platforms such as Binance Smart Chain, Polygon, and other Polkadot parachains.
Knit Finance will be able to add other fiat currencies to their growing portfolio when Public Mint introduces them in Q4 2021, such as the Euro and the British Pound.
About Public Mint
A complete platform for fiat money that is fully collateralized and maintained on deposit with FDIC-insured, regulated banks. Public Mint provides an open fiat-native blockchain and APIs that allow anybody to create fiat apps that accept credit cards, ACH, wire transfers, stablecoins, and other fiat currencies.
About Knit Finance
Knit Finance is a decentralized technology that allows users to create cross-chain wrappers for key assets. It provides all-chains bridges to ensure asset fluidity between chains and allows institutions, developers, farmers, and traders to mint Knit’s k tokens from trusted custody. Making previously unavailable assets available to trade on the chain you love in a secure and simple manner.