Decentralized finance (DeFi) startup PowerDfi has acquired NaijaCrypto to support physical financing assets worth billions, marking a significant milestone in the DeFi sector. PowerDfi plans to “lead the way” in “bringing physical asset economic usefulness to the Blockchain” using its cutting-edge technology. PowerDFI unlocks billions of dollars worth of equity in physical assets using financial engineering methods based on blockchain technology.
According to Tim Webb, founder and CEO of PowerDfi, “With the help of this purchase, we are able to introduce to the Blockchain the financing of massive quantities of vital assets. No other DeFi platform enables tokenized assets for staking, loans, and derivative formation.
Furthermore, Webb said, “We’re developing a derivative platform on the Blockchain to aid firms in hedging against local currency and asset exposure risk to international markets. He also emphasized the organization’s overarching goal: “to use Blockchain to increase transparency and security in the 57 trillion USD shadow banking system.” According to the FSB, the shadow banking sector is worth roughly $57 trillion and is anticipated to continue growing positively in the years to come. PowerDFI is using the Blockchain to increase shadow banking’s transparency and security market.
He said that the PowerDfi platform’s staking and lending regulations have allowed for the unlocking and unfreezing of significant sums of equity. “At a time when client money is being frozen, and jobs are being slashed in this industry, we are building a strong new platform that will power asset finance on the blockchain internationally.”
Chiagozie Iwu, CEO of Naijacrypto, asserts that “PowerDfi’s purchase of Naijacrypto is a fit-like-a-glove, synergistic arrangement in which the skills of one firm precisely suit the demands of the other.” Combining the two products was easy since Naijacrypto has the necessary infrastructure to support and enhance the PowerDfi concept.
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According to Webb, combining the platforms developed by the businesses and the work completed completes our technology suite to manage billions of dollars in assets over the next ten years. Our ability to provide intelligent contracts on the Blockchain for staking tangible assets first and incorporating many yield methods make us a top fintech internationally.
I am happy that Naijacrypto and its whole team will have a front-row seat on this trip since PowerDfi is the next stage of the DeFi development, Iwu added.
About PowerDfi
PowerDfi is an innovative platform based on decentralized finance that provides customers with end-to-end blockchain solutions and allows users to redefine payments and loans using DeFi. We are developing an ecosystem that incorporates DeFi apps that are prepared for the future, optimizes lending and staking of digital and analogue assets, and develops a decentralized protocol for mining.
The platform unlocks the financing capacity of Physical assets via the Blockchain. It also enables the tokenization of physical assets and the subsequent use of such tokenized assets to access loans and earn yields via various Financial Engineering Techniques structured via smart contracts.
PowerDFI Also enables derivative creation against tokenized assets which can be sold in a Liquid marketplace. PowerDFI, via its exchange infrastructure, also allows the exchange of Tokenized assets, tokens backing the lending and staking contracts, tokens with bond characteristics collateralized by pledged assets and other properly structured financial products engineered via the Blockchain.
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About Naijacrypto
Naijacrypto is a cryptocurrency exchange that facilitates 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 through Blockchain technology. It is dubbed as one of Africa’s most robust exchanges.
Recently, it has expanded into five new African markets and Great Britain. This is in addition to its significant presence in Nigeria and Kenya. The African markets added are; Ghana, South Africa, Uganda, Cameroun, and Burundi. Their US dollar deposit was also re-opened, providing an option to the rest of the world.