Financial services

Vesto launches on mainnet for decentralized financial services and crypto-related offerings

End-to-end protocol supports multi-token integration via Ethereum, Polygon

CHEYENNE, Wyo., May 2, 2022 /PRNewswire/ — Vesto, a comprehensive multi-token protocol for decentralized financial services (DeFi), today announced that it is going live on the mainnet. The protocol facilitates transactions with clients, such as Oldham Global, demonstrating successful integrations after an extensive testing period and security audit review with ChainSecurity.

The launch of the mainnet gives Vesto access to more customers and partners and expands its offerings and use cases for the various services offered by its protocol. The announcement follows a partnership with Element Finance to bring DeFi to a wider range of traditional financial institutions as demands for attractive returns and associated neo-banking services increase. Other strategic partners and licensors of Vesto include Circle, Yearn, MakerDAO, Onfido, Plaid and FinClusive.

While we’ve been successfully onboarding customers and beta testing for several months, going live on the mainnet is a game-changer and we’re well positioned to continue demonstrating our usefulness to the ecosystem through our full suite of services, including white label or a la carte options,” said Christopher McGregorCEO of Vesto. This launch represents a milestone and validates our meticulous work in building a comprehensive protocol that offers a true end-to-end solution for decentralized financial services and countless use cases beyond.”

We chose to work with Vesto to leverage white-label solutions that would significantly enhance our funding capabilities and enable us to benefit from DeFi and payment-related opportunities, both of which have benefited us and our customers immensely,” said Bill OldhamCEO and co-founder of Oldham Global, a quasi-family office managing its own funds alongside investors.

Set Vesto attributesThe protocol includes:

Ethereum Mainnet

  • Maximizing Yield on Ethereum with Integrated DeFi Protocols Element and Yearn
  • Mint Vesto’s wrapped ERC20 tokens on Ethereum and bulk transfer to Polygon in a single trustless transaction via Vesto’s custom bridge

Main network of the polygon

  • Proof of Stake (PoS) enables fast and profitable transactions on Polygon
  • Earning Yield Generated from Vesto Wrapped ERC20 Tokens on Polygon Supports a Multitude of Use Cases
  • Custom bridge built on Polygon’s Fx portal for bulk token transfer to and from Ethereum

Challenge

  • In addition to access to a fully automated, middleman-free money market with attractive returns, institutions can customize and decide on the allocation of what the pool yields
  • Instant liquidity, rewards paid daily and insurance provided by Nexus Mutual
  • While the underlying asset (USDC) earns a passive return, the Vesto-wrapped ERC20 token is used as currency on Polygon

Secure Wallet Services

  • The enterprise multisig wallet provides secure storage and management services for crypto assets supporting wBTC, Dai, USDC and ERC20, with both the user’s non-custodial private key and the Vesto private key required for every transaction
  • Compliance and regulatory features include integration with built-in KYC, KYB, KYT, AML checks and all transactions made in chain for real-time access to permanent and immutable records
  • Fiat on/off ramp with FinClusive in the US and additional on/off ramps for the international market
  • Instant conversion from fiat to crypto (and vice versa) and Circle and MakerDAO stablecoins to minimize volatility, act as a medium of exchange
  • Ability to connect to any existing online banking account

Crypto Token Services

  • Vesto’s two-token payment process places USDC tokens in DeFi-generating interest while corresponding Vesto-wrapped ERC20 utility tokens are minted and used for Polygon transactions, optimizing yield and gas fees
  • Bridge to alternative networks enables expansion to future emerging or specialty chains optimized for selected assets or new use cases
  • Supports major token standards on the Ethereum blockchain (e.g. ERC20, ERC721, ERC1155, ERC1400, ERC2981) which cover payment tokens natively or wrapped, and standards for NFTs

About Vesto
Vesto ushers in a new era for finance by making participation in the evolving digital asset ecosystem secure and user-friendly, integrated into a compliant framework. Vesto provides an end-to-end solution that enables customers to leverage encryption services through an agile, scalable and compliant protocol (as a white label service). That’s itn-string decentralized services provide access to the most advanced crypto-banking, trading, and yield-generating offerings available.

Follow Vesto on TwitterLinkedIn and learn more on vesto.io

Media Contact: Armel LesliePeak strategies, [email protected]

SOURCEVesto