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Vesto Partners with Element Finance to Bring DeFi to Broader Set of Financial Institutions

Global banking and finance news 28

Industry-first offerings designed to meet risk, yield goals

CHEYENNE, Wyo., March 31, 2022 /PRNewswire/ — Vesto, a comprehensive, multi-token protocol for decentralized financial services, today announced that it is bringing to market  DeFi products that meet the risk tolerances and yield generation goals of financial services organizations, in partnership with Element Finance.

Vesto's protocol allows users to manage their digital asset wallets, transfer funds and access DeFi offerings within a user-friendly interface built on an infrastructure that is aimed at simplifying DeFi applications and access. In Combination with Element's protocol that offers tools and strategies to maximize yields, this novel offering is targeting an untapped audience that have previously found DeFi too prohibitive and complex to tackle.

To spearhead this new DeFi offering to banks, credit unions and related institutions, Vesto has added Fintech veteran Doug Young to its management team. Young is an established banking technology executive with prior roles at JP Morgan Chase, KeyBank, PNC and most recently as CIO at Premier Bank.  

“While our protocol meets many use cases head on, our initial focus is to provide the gateway to decentralized finance for the traditional financial services ecosystem,” said Chris McGregor, CEO of Vesto. “Our key differentiator is holding all assets and processing all transactions on-chain, driven by a heightened desire for transparency and record keeping.  Moreover, our open architecture offers a seamless solution for other crypto provider's needs, as highlighted by this partnership.”

All three options in Vesto's initial automated DeFi product line up are designed on risk management principals practiced by asset managers and treasurers and are designed to preserve principal and minimize cryptocurrency volatility by denominating all investments in USD via Circle's USDC stablecoin. 

Vesto's protocol makes DeFi navigable, including know your customer (KYC), know your business (KYB), know your transaction (KYT), anti-money laundering (AML) and other security and identity on-boarding technology. With all transactions conducted on-chain, clients always have access to permanent immutable records for regulatory compliance and reporting.   

About Vesto
Vesto is ushering in a new era for finance by making participation in the evolving digital asset ecosystem secure and user-friendly, embedded within a compliant framework. Vesto delivers an end-to-end solution that allows clients to leverage crypto services via an agile, scalable, and compliant protocol and believes that its on-chain decentralized services provides access to the most advanced crypto banking, transaction, and yield generation offering available.

Media Contact:  Armel Leslie, Peaks Strategies, [email protected]

Cision View original content:https://www.prnewswire.com/news-releases/vesto-partners-with-element-finance-to-bring-defi-to-broader-set-of-financial-institutions-301514159.html

SOURCE Vesto

Vesto Partners with Element Finance to Bring DeFi to Broader Set of Financial Institutions 3

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