Blockchain Financing Startup PowerDfi Acquires Naijacrypto
“Synergistic Arrangement”; “Make physical assets liquid via the blockchain”
SHERIDAN, WYOMING, USA, September 12, 2022 /EINPresswire.com/ — Realizing a major milestone in the Decentralized Finance (DeFi) market, DeFi Startup PowerDfi has acquired Naijacrypto to help enable funding of billions of physical assets . Leveraging its innovative blockchain technologies, PowerDfi also expects to “lead the way” in “bringing physical asset financial utility to the Blockchain.” PowerDFI uses Blockchain-based Financial Engineering techniques to unlock trillions in equity in physical assets.
“This acquisition allows us to bring the future of financing massive amounts of critical assets to the blockchain. No other DeFi platform enables tokenized assets to be leveraged for staking, lending and derivative creation,” said PowerDfi Founder and CEO Tim Webb.
“Large amounts of equity can now be unlocked and unlocked because of the PowerDfi platform and its staking and lending protocols,” he added. “At a time of cutbacks and freezes of client funds in this sector, we are creating a robust new platform that will drive asset financing on the blockchain globally.”
“PowerDfi’s acquisition of Naijacrypto is a fit like a glove, synergistic arrangement where the capabilities of each company perfectly meet the needs of the other,” Naijacrypto CEO Chiagozie Iwu said. “The amalgamation of both products was a no-brainer as Naijacrypto has the infrastructure to facilitate and complement the PowerDfi vision.”
“Combining the companies’ platforms built and work done completes our technology stack to manage trillions in assets over the next decade,” Webb said. “Our combined strengths of being the first in the market to allow staking of physical assets using smart contracts on the blockchain and integration of various return mechanisms to be a leading fintech globally.”
“We are also building a derivatives platform on the blockchain to help businesses hedge against native currency and asset exposure risk to global markets,” Webb explained.
He also highlighted the companies’ larger purpose: “to make the $57 trillion shadow banking market more transparent and secure via Blockchain.”
The FSB estimates that the shadow banking market is worth around $57 trillion and is expected to maintain a positive growth rate in the coming years. PowerDFI uses Blockchain to bring more transparency and security to the shadow banking market.
PowerDfi is the next phase of the DeFi evolution and I am glad Naijacrypto and the entire team will have a front seat on this journey,” Iwu added.
About PowerDfi
PowerDfi is an emerging platform built on the concept of decentralized finance to offer complete blockchain solutions to users and redefine payments and loans with DeFi. We are building an ecosystem that embodies future-ready DeFi applications and optimizes lending and staking of digital and non-digital assets while creating a decentralized protocol for mining.
About Naijacrypto
Naijacrypto is a cryptocurrency exchange that facilitates cryptocurrency spot trading, staking, cryptocurrency-backed loans and many other blockchain-based services. It aims to bridge the gaps in financial inclusion by facilitating traditional financial activities via the blockchain.
Tim Webb
PowerDFI
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