Akt.io, the platform bridging decentralized finance (DeFi), wealth management and payment services, has announced its partnership with the HBAR Foundation in order to support their launch of the first DeFi app on the carbon-negative Hedera Network, which claims to be “the most used, sustainable and enterprise-grade public network for the decentralized economy.”
As mentioned in a release shared with Crowdfund Insider, akt.io has received a grant and will receive organizational support from the HBAR Foundation to support its launch and growth on the Hedera Network.
The update also noted that their forthcoming app should “enable users to automate investments with intelligent algorithms, generate income with digital assets and be seamlessly connected to the akt.io Wealth Card, an internationally recognized payment card that will allow for direct payments with invested capital.”
Shayne Higdon, CEO and Executive Director of the HBAR Foundation, stated:
“We’re impressed with akt.io’s revolutionary platform and pleased with their choice of the Hedera Network to enable their vision for providing retail investors with a seamless, integrated model that puts their capital to work while enabling the convenience of immediate liquidity that you’d associate with having cash in the bank. This is the future of banking and the HBAR Foundation is proud to help accelerate its evolution with akt.io.”
The HBAR Foundation supports growth of the Hedera ecosystem by offering grants and resources “for technical assistance, marketing and business development to developers, startups and organizations building on the network.”
The update also noted that Hedera provides 10,000 transactions per second (TPS), “”near real-time settlement, and low fees and bandwidth consumption.” Since launching back in 2018, the public network has handled more than 1.75 billion transactions “generated by real-world applications and has over 410k accounts.”
Gael Itier, CEO and Founder of akt.io, said:
“As a company, akt.io is committed to sustainability, enhanced levels of customer transparency and prioritizing the best possible price and exchange route for our users. The hashgraph consensus used by Hedera’s distributed ledger technology (DLT) provides a more time-, cost- and energy-efficient mechanism to approve transactions than proof-of-work blockchains.”
Akt.io’s parent firm Automata is “engaged as a tied agent with regulated payment service providers in the UK and Ireland.” This positions the firm to “move forward in the UK and European markets.”
The update also mentioned that with akt.io’s multi-route exchange tech, users will have the option to “execute virtually instantaneous asset exchanges directly on the platform.”
In October 2021, akt.io introduced a public initial coin offering (ICO) in Ireland for early investors in the AKTIO coin.
The initial version of the akt.io app is scheduled to go live at the end of 2021 “with basic functionalities like an IBAN account number and the ability to purchase AKTIO coins in the public ICO sale.” Other core features, “like the payment card, will start to roll out in early 2022,” the update confirmed.