KEY TAKEAWAYS
- Kima Network partners with Credible Finance to integrate DeFi liquidity with traditional fintech compliance, aiming to revolutionize credit access.
- Credible Finance utilizes AI-powered on-chain credit ratings to offer stablecoin-backed loans and credit products, ensuring transparency and security.
- The partnership explores integrating Kima’s payment network to enhance Credible’s offerings, including seamless Euro fiat transactions and cross-chain stablecoin settlement.
Kima Network has announced a strategic partnership with Credible Finance, an AI-powered, decentralized payment financing platform. This collaboration aims to revolutionize credit access by integrating decentralized finance (DeFi) liquidity with traditional fintech compliance. The partnership was detailed here.
Credible Finance offers a comprehensive credit infrastructure that utilizes AI-powered on-chain credit ratings. These ratings are leveraged to provide stablecoin-backed cash loans, credit cards, and pay-later consumer credit products. As a non-custodial, licensed full-stack payment financing platform, Credible merges DeFi liquidity with licensed fintech solutions to deliver flexible credit options for both personal and business use.
AI-Powered Credit Infrastructure
At the core of Credible Finance is an innovative AI-driven decentralized Oracle network. This system creates wallet-based credit scoring and histories, functioning as the Web3 equivalent of traditional credit rating agencies like FICO or Experian. This technology enables accurate borrower credit assessments, paving the way for flexible credit solutions.
Credible Finance’s non-custodial model ensures that borrowers and lenders retain full control over their funds. This approach promotes on-chain transparency, fostering security and decentralization. By leveraging DeFi liquidity, lenders can provide secure asset-backed loans while earning competitive yields.
Integration with Kima Network
In this partnership, Credible Finance is exploring ways to integrate Kima’s payment network to enhance its offerings and streamline credit operations. This includes utilizing Kima’s on/off ramp infrastructure in the EU region to enable seamless Euro fiat transactions. Additionally, Credible will review Kima’s API for cross-chain stablecoin settlement, which could significantly enhance its global credit infrastructure.
Kima Network is an asset-agnostic, blockchain-based decentralized settlement protocol designed to address fragmentation in the crypto and broader financial space. By introducing a new financial primitive known as the Smart Transaction, along with an easy-to-use SDK for Web3 and Web 2.0 applications, Kima opens access to new audiences by enabling interchain and hybrid transactions.
With a settlement layer supporting multi-ecosystem payments, peer-to-peer commerce, centralized and decentralized finance services, cross-chain decentralized exchange swaps, and omnichannel wallets, Kima provides a seamless way to connect fiat and crypto, emphasizing security and accessibility.
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