ZkLink Teams Up with Marketplace for Financial NFTs, Pledge Finance

Pledge Finance, the platform for long-term, fixed-rate cryptocurrency-based loans, is pleased to confirm a partnership with zkLink, a provider of secure cross-chain token swaps “powered by zero-knowledge proofs.”

As mentioned in an update shared with CI, the partnership will allow Pledge to “integrate with more blockchains, while also expanding zkLink’s product offerings.”

zkLink is a multi-chain trading platform that provides simple swaps with fast finality, “made private and secure with zero-knowledge proof (ZKP) technology.”

The announcement also mentioned that Pledge Finance focuses “not on savvy day traders who prefer volatility, but rather on larger investors and miners who need stable, long-term loans.”

Pledge also supplies other lending products such as crypto bonds, refinancing, and interest rate swaps which “represent a multi-trillion dollar market among legacy institutions.”

Together, Pledge and zkLink can bring “a whole new level of functionality to crypto, making it easier to swap interest rates between loans that exist on different blockchains, increase multi-chain liquidity for trading and lending, and integrate different crypto ecosystems.”

Said zkLink:

“Partnering with Pledge helps us maintain our competitive advantage and innovative edge. zkLink differs from many other cross-chain projects because of our focus on privacy, using ZK-proofs to achieve that goal. Now, we also hope to offer cross-chain loan capabilities unfettered by ecosystem isolation.”

Tony Chan, CEO of Pledge, remarked:

“Interoperability is essential for Pledge. To provide a way for users to diversify the risk profiles of their portfolios and also to facilitate interest rate swaps, it’s essential to have an interoperable, cross-chain system. And of course, one of the features users demand of crypto is increased privacy, which zkLink’s technology can help provide.”

As noted in a release, Pledge claims to be the world’s lending marketplace for Financial NFTs.

Beginning with the fixed-rate and terms bitcoin loan, Pledge V1 provides TradeFi and DeFi investors “a fixed return, and in parallel, fixed cost of capital to professional crypto traders.”

Pledge V2 will “make bitcoin loans tradable by converting bitcoin loans into Financial NFTs.”

As mentioned in the release, zkLink uses zero-knowledge proofs (ZKPs) and offers cross-chain token swaps “even with isolated ecosystems, and also gives developers an efficient way to deploy multi-chain dApps.”

ZKPs are “a groundbreaking proof system that allows for the verification of data without needing to reveal any of that data. Using ZKPs, zkLink provides cross-chain interoperability without sacrificing privacy.”

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