South Korean Game Giant Wemade Launches New Defi Service Aimed at Higher Usability, Transparency, and Reliability
According to reports, South Korean game giant Wemade announced the launch of a new Defi service, Kurrency, aimed at providing higher usability, transparency an…
According to reports, South Korean game giant Wemade announced the launch of a new Defi service, Kurrency, aimed at providing higher usability, transparency and reliability. Kurrency is a service that issues cryptocurrency through mortgage debt position. Users can entrust the virtual assets supported by the service as collateral to issue WCD (WEMIX encrypted USD).
Wemade launches new Defi service Kurrency
Interpret the above information:
South Korean game giant Wemade has recently announced the launch of its new Defi service called Kurrency. This service is targeted towards improving the usability, transparency, and reliability of cryptocurrencies. Kurrency is a platform that issues cryptocurrency through a mortgage debt position. Users can entrust their virtual assets as collateral and issue WCD or WEMIX encrypted USD, which is backed by the value of the virtual assets.
This new development is aimed at providing cryptocurrency holders with more options and opportunities to utilize their assets. Kurrency’s offering of WCD is an example of a stablecoin that is pegged to the US dollar. This allows for a more stable value, which is beneficial for users who want to protect the value of their virtual assets from market volatility.
The use of mortgage debt position in issuing cryptocurrency is not entirely new in the industry. However, its adoption has been slow due to skepticism regarding its transparency and reliability. With Kurrency, Wemade aims to address these issues by providing a platform that is secured by an asset-backed smart contract. This smart contract ensures the safekeeping of users’ virtual assets and maintains that these assets are not misused or mishandled in any way.
The shift towards decentralized finance or Defi is gaining momentum in the financial industry. Defi can offer a more transparent and flexible financial ecosystem for its users, which is why it is becoming increasingly popular not only in South Korea but globally. Through its new Defi service, Kurrency, Wemade joins other big players in the industry like Binance, Coinbase, and Huobi in providing users with access to more diverse financial products and services.
In conclusion, the launch of Kurrency is a significant development for the cryptocurrency industry as it provides users with more accessible and stable ways of utilizing their virtual assets. Wemade’s foray into Defi shows that even big players in the gaming industry recognize the potential of the technology and are willing to invest in it. This development further emphasizes the importance of transparency and reliability in the cryptocurrency industry, which are key factors in its wide-scale adoption.
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