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Kinto, the on-chain financial platform built atop Ethereum, received on Monday a whooping 20 million dollars funding by Brevan Howard Digital, the digital assets division of the prominent global alternative investment management firm.
This funding has made Brevan Howard Digital one of the first traditional firms to trust the potential of Ethereum L2\u2019s on-chain reward program offered by Kinto and the ultimate Defi ecosystems.<\/p>\n
As the only L2 with native Know your Customer (KYC) and (AML) at the blockchain level, Kinto<\/a> is working towards the mission of bridging traditional finance with decentralized finance (DeFi). Presenting it as the modular exchange, Kito with its non-custodial and insured wallet provided users access to a wide range of DeFi opportunities with maximum security. We are happy to share that @BHDigitalAssets<\/a> deployed $20m in assets on Kinto, participating in our mining program.<\/p>\n Read more in the press release: https:\/\/t.co\/MkRgmoMOD7<\/a><\/p>\n \u2014 Kinto (@KintoXYZ) February 17, 2025<\/a><\/p>\n<\/blockquote>\n The received funding also aligns with the growing narrative of traditional financial firms engaging in DeFi ecosystems.<\/p>\n Traditional financial institutions are increasingly exploring decentralized finance (DeFi) to leverage blockchain technology while maintaining regulatory compliance. Firms like Brevan Howard Digital and Goldman Sachs<\/a> have invested in DeFi startups, liquidity pools, and on-chain platforms such as above-mentioned Kinto.\u00a0Large asset managers and banks are acquiring DeFi-focused companies or launching joint ventures.<\/p>\n In a move towards supporting tokenized Securities & Bonds,\u00a0JPMorgan, BlackRock, and HSBC have issued blockchain-based bonds and mutual funds to facilitate instant settlement and reduce costs. The traditional insitutions such as Banks are developing KYC-compliant liquidity pools, such as Aave Arc, which allow regulated institutions to participate in DeFi lending\/borrowing. Furthermore, Banks like Standard Chartered, BNY Mellon, and Fidelity are also providing custody services for digital assets.<\/p>\n Using the efficiency of Blockchain-Powered Settlement Networks, JPMorgan is using Onyx blockchain is\u00a0 for cross-border transactions \u2013 establishing the trend that is accelerating with more institutions seeking to benefit from DeFi\u2019s automation, cost savings, and new revenue models.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n \n Disclaimer: The content may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.\n <\/p>\n<\/p><\/div>\n
The received funding will most probably be used by Kinto to support it\u2019s on-chain mining program. By integrating these funds into the mining program, Kinto aims to attract more institutional participants, thereby enhancing the platform\u2019s liquidity and fostering a robust decentralized finance (DeFi) ecosystem tailored to meet institutional compliance and security standards.<\/p>\n\n
Traditional firms entering DeFi space<\/h3>\n