MELD Leverages Avalanche’s L1 Technology to Enhance its DeFi Offerings

May 3, 2023 / By Avalanche / 2 Minute Read

MELD Leverages Avalanche’s Subnet Technology to Enhance its DeFi Offerings

MELD aims to deliver a user-friendly interface for accessing and managing digital and fiat assets, fostering financial inclusion.

MELD is launching its suite of financial and web3 products as an Avalanche L1 (formerly "subnets") in an effort to bridge the gap between crypto and traditional finance and empowering financial independence in the DeFi ecosystem.

Ken Olling, CEO of MELD, said, "We're thrilled to build with Avalanche and leverage its powerful customized L1 technology to further our mission of financial inclusion. This expansion enables us to provide a seamless and user-friendly interface for users to access and manage their crypto and fiat assets, giving them greater control and financial freedom."

By launching as an Avalanche L1, MELD will have more control over its security infrastructure, opportunities for customization, and increased scalability and performance without sacrificing interoperability. The MELD blockchain will use the MELD token to pay for transaction fees.

MELD also launched its MELDapp. The MELDapp is a non-custodial, multichain wallet that supports BSC, Avalanche, Cardano, BTC, and the MELD network.

MELD enables users to borrow fiat currencies (USD and EUR) against their digital assets, without having to sell their digital assets, expose their private keys, or provide custody of their assets to a third-party.

The launch comes amidst growing trends in the DeFi market, such as the increased mainstream adoption of DeFi, the rise of DeFi insurance products, and the expansion of DeFi lending and borrowing platforms. MELD aims to support these trends by enabling a harmonious financial ecosystem, leveraging blockchain technology and DeFi innovation.

Ken Olling, CEO of MELD, shared his motivation behind starting the project, stating, "We believe that traditional financial systems and crypto do not have to be in conflict with each other, but rather can complement and enhance each other. MELD wants to provide financial services to everyone in a fair and trustless manner, regardless of their location, background, or status."

To learn more about MELD, visit their website, whitepaper, and other resources:

Website: https://www.meld.com/

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