Hedera Network will soon see its first DeFi project

Akt.io, in partnership with the HBAR Foundation, is launching on the Hedera network, becoming the first DeFi app on the carbon-negative blockchain.

The HBAR Foundation fuels the development of the Hedera ecosystem by providing grants and other resources to developers, startups, and organizations that seek to launch decentralized applications in DeFi, NFTs, CBDCs, ESGs, gaming, and other sectors.

The HBAR Foundation fuels growth of the Hedera ecosystem by providing grants and resources for technical assistance, marketing, and business development to developers, startups, and organizations building on the network. 

Hedera awards ecosystem grant

Akt.io has been awarded a grant and will receive organizational support from the HBAR Foundation to fuel its launch and growth on the Hedera Network. Their forthcoming app will enable users to automate investments with intelligent algorithms, generate income with digital assets, and be seamlessly connected to the akt.io Wealth Card, an internationally recognized payment card that will allow for direct payments with invested capital. 

“We’re impressed with akt.io’s revolutionary platform and pleased with their choice of the Hedera Network to enable their vision for providing retail investors with a seamless, integrated model that puts their capital to work while enabling the convenience of immediate liquidity that you’d associate with having cash in the bank,” explained Shayne Higdon, CEO and Executive Director of the HBAR Foundation, in a statement.

Hedera offers 10,000 transactions per second, near the real-time settlement, and low fees and bandwidth consumption. Since launching in 2018, the public network has processed over 1.75 billion transactions generated by real-world applications and has over 410k accounts. 

Akt.io’s parent company Automata is engaged as a tied agent with regulated payment service providers in the UK and Ireland. This positions the company to quickly move forward in the UK and European markets.

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