Current is a leading financial technology company in the United States, committed to bringing better financial services to users across the United States and creating a better future. Recently, Current announced a strategic cooperation with Polkadot DeFi platform Acala. This is also the first time in history to establish a diversified financial paradigm - HyFi (Hybrid Finance), which allows the deep integration of traditional banks and decentralized finance, and accelerates the wave of digital transformation of financial services.
In order to provide users with more credible financial products, Current will develop its own basic applications and become an active validator of the Polkadot network.
In addition, Current will directly integrate Acala's series of out-of-the-box DeFi products into its core products to realize the bridge between its proprietary core banking platform and decentralized open platform, so as to form a transparent, fair and complete Closed loop of financial services. This will also become an "accelerator" for the HyFi (Hybrid Finance) service infrastructure, helping nearly 3 million members on the Current platform capture more value.
“ We created Current because we could see how money was being re-networked through new technologies,” said Trevor Marshall, Current Chief Technology Officer. “Our initiative with Acala allows us to flex this muscle we have been developing for the past six years.”
"We started Current primarily because we clearly understood that money was being re-networked through new technologies. "Current CTO Trevor Marshall said: "Our cooperation with Acala allows us to demonstrate the strengths we have accumulated over the past six years. "
As a one-stop decentralized financial platform, Acala shares security with Polkadot and brings a series of out-of-the-box cross-chain financial products, allowing users to quickly exchange assets, self-service lending, and become a liquidity provider , use Staking liquidity products, etc., to help encrypted assets obtain highly competitive annualized returns. Acala's DeFi functions will be continuously optimized to meet people's growing service demands for HyFi (Hybrid Finance) applications.
“Current is leading the way at the intersection of modern banking and decentralized finance. The integration between Acala and Current is a groundbreaking innovation, and we are excited to bring cutting-edge financial solutions to Current’s members,” said Bette Chen, Co-Founder of Acala. “This is only the tip of the iceberg of the products we can build to blend traditional fintech and crypto-native products.”
“We are currently at the historical intersection of modern traditional banking and the development of decentralized finance. The strategic integration between Acala and Current is a groundbreaking breakthrough, and we are excited to bring leading financial solutions to Current’s clients.” solution," said Bette Chen, co-founder of Acala, "it is just the tip of the iceberg of our cooperation, and we will bring more products that integrate traditional financial technology and native encryption technology in the future."
“Polkadot was built to enable a decentralized web with native financial infrastructure, and Acala’s integration with Current accelerates that vision,” added Peter Mauric, Head of Public Affairs at Parity Technologies, the software development company building the initial implementation of Polkadot. “Growing digital economies will rely heavily on initiatives like this, bridging users from a siloed past to our open future.”
"The Polkadot Network was built to enable a decentralized web with native financial infrastructure, and Acala's integration with Current accelerates that vision," said Director of Public Affairs at Parity Technologies (the software development company that launched Polkadot & Kusama) Peter Mauric added, "The growing digital economy will depend heavily on the convergence of innovations like this, connecting users from siled traditional finance to our open future."
About • Current
Current is America's leading fintech company, creating a better future through better financial services. Current's mission is to transform the lives of its users through better financial returns. In today's world of increasing digitization and increasing complexity, Current will provide the young generation of professional investors, teenagers and their parents with mobile banking services and exciting innovative products through cutting-edge technology enabling capabilities.
Current is headquartered in New York and has been established for more than 6 years. It mainly provides American users with free credit lines, no minimum balance requirements, faster direct deposits, instant consumption notifications, and innovative mobile banking functions such as business for teenagers. It currently has nearly 3 million customers and invests Institutions include A16z, Tiger Global Management, TQ Ventures, Avenir, Sapphire Ventures, Foundation Capital, Wellington Management, QED Investors and EXPA and other overseas first-tier funds.
