Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => DeFi tokens => Topic started by: Btceth01 on November 09, 2021, 10:53:29 PM
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The Netherlands’ Authority for the Financial Markets (AFM) has begun working with the Dutch bank ING on a prospective trial of its Decentralized Finance (DeFi) peer-to-peer (P2P) lending program as part of the AFM sandbox.
Notably, ING’s Chief Innovation Officer, Annerie Vreugdenhil, said during a presentation at the Singapore Fintech Festival that Bitcoin and other ‘volatile’ assets will not be accepted as collateral for the application, as per Ledger Insights.
ING released a paper on DeFi earlier this year, which focused on the permissionless Aave peer-to-peer lending protocol. During the month of July, it became evident that Aave was working on a permissioned lending pool aimed at institutions and would be called Aave Arc.
The lending protocol
The permissioned lending protocol was introduced in September by digital asset custodian Fireblocks, which counts BNY Mellon among its investors and customers. Fireblocks proposes to operate as a “whitelister,” which is to say, it would ensure compliance with the protocol. Source (https://cryptonews.net/2567571/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)