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Blockchain revolution Series: Cardano Partners With Lykke For Fintech Exploration
In the advanced era of FinTech, we’ve seen various joint venturing and strategic alliances.
Ripple has recently announced a fresh partnership with the Thai fintech start-up DeeMoney, the extensive payment mechanism, designed & developed to be more Swifter exclusively targets inbound payments in certain regions.
But for now, Cardano Foundation joins their hands with ‘Lykke’ which is Swiss-based fintech company with an objective of expansion of financial product line and services provision.
The Cardano blockchain has announced their collaboration with Lykke Corp, on several initiatives especially for financial expertise and the market positioning. The top-notch officials from both sides are making constructive statements about this partnership deal.
Nathan Kaiser, Chairperson of the Cardano Foundation, says:
“Lykke Corp is one of Switzerland’s most innovative blockchain financial companies and we are pleased to be partnering with its expert team. Through this collaboration, both the Cardano Foundation and Lykke Corp will seek to build out financial infrastructure and offer services that will both empower the Cardano ecosystem and enrich the wider blockchain space.”
Richard Olsen, Founder and CEO of Lykke Corp, says:
“Cardano has all of the critical attributes to become the blockchain of choice for banks— scalability, formal methods, and a peer-reviewed code base. Our collaboration with the Cardano Foundation enhances the organized trading facility (OTF) offerings of Lykke, and paves the way for new Lykke products and services built and deployed on Cardano.”
The partnership deal, at this juncture, is due for the approval by the Swiss Financial Market regulatory authority (FINMA) to enhance their scope of operations and financial products.
Cardano Foundation equips Lykke with the unique market access upon obtaining the regulatory approval to promote its products on the Cardano blockchain.
Well, overall, the current FinTech space has been exhibiting the new trends and inventions, such as, Smart contracts & DeFi which seem to be lucrative prospects for the finance industry. CBDC and Stable coins are also lined up in addition, they are most likely to strike a chord in the financial avenue by endorsing luring use cases of digital experience that enables flexibility, controllability of the financial as well as real assets, efficient trade finance & loans business and offer interest-bearing contracts etc.