EMURGO, the official commercial arm of Cardano, announced the Astarter joint venture to lead DeFi development on this blockchain. The joint venture is the result of a partnership between EMURGO and the Chinese company BlockChain4A.
The two companies will work together to develop and improve the essential infrastructure of DeFi development on Cardano. It can be a strategic step for Cardano that integrated smart contract support successfully with the Alonzo hard fork.
Moving Faster Into the DeFi World
Cardano is among the leading blockchains focusing on entering the DeFi world strongly and offer attractive alternatives to current and future users. The new partnership between EMURGO and BlockChain4A is another step toward this goal. The two companies will combine their expertise and powers to build a DeFi infrastructure for the Cardano blockchain.
EMURGO is the official commercial arm of the Cardano blockchain. The company has been very active in developing and promoting numerous socially impactful solutions for this blockchain. It’s based in Singapore and has many good relationships with blockchain companies in East Asia. The new partnership with BlockChain4A company in China will result in a platform called Astarter that brings many opportunities to Cardano.
Astarter will offer services initially with an IDO launchpad. The next step will be the launch of a decentralized exchange (DEX) on Cardano. Other DeFi services like lending and borrowing will follow later. The two companies behind this project believe DeFi on Cardano can help more people around the world find easier access to financial services. EMURGO CEO, Ken Kodama, said about the joint venture:
“DeFi has been gaining traction very rapidly over the past year as it can provide more accessible financial services to many people that have been underserved by the current financial system. A wider range of services promotes financial inclusion and social cohesion, especially in areas lacking in traditional financial services. Astarter is a step towards leveraging Cardano’s research-driven blockchain as a platform to build important decentralized financial infrastructure that can be used by anyone.”
Chris Tang is the CEO of the new joint venture, Astarter. He believes the platform can become the DeFi hub on Cardano and expand its offerings to more blockchain users. It can become a great accelerator for new dApps on this blockchain.
New Defi opportunities on Cardano can surely attract new users and developers to this ecosystem. The situation isn’t good in dominant DeFi blockchains like Ethereum. The gas price and network congestion are still big problems. All of these challenges result in more users considering alternatives like Solana. Astarter can be a good opportunity here for developers to launch their DeFi services and attract new users.