Kiln has launched a new DeFi service offering stablecoin rewards, starting with users of Crypto.com’s web3 wallet.
Points
- Kiln’s DeFi service simplifies access to stablecoin rewards.
- Crypto.com DeFi Wallet users are the first to benefit from this service.
- The service integrates with leading DeFi protocols like Aave, Morpho, and Compound.
Kiln, an institutional crypto staking platform, has launched “Kiln DeFi,” a new service designed to streamline access to stablecoin rewards. Initially, this service will be available to users of Crypto.com’s DeFi Wallet, a non-custodial web3 wallet developed by the centralized crypto exchange.
Kiln DeFi aims to simplify the process of earning non-custodial rewards for stablecoin assets, which often involves direct interaction with DeFi protocols—an approach that can be complicated, burdensome, and pose security risks. By integrating with established DeFi lending protocols such as Aave, Morpho, and Compound, Kiln DeFi offers users a secure and straightforward way to generate additional yield from their digital assets through native workflows within their wallets or platforms.
Laszlo Szabo, Kiln’s co-founder and CEO, emphasized the significance of this development, stating, “Access to non-custodial reward opportunities for stablecoins is a crucial next step in our vision to democratize digital asset value creation. By allowing our customers to seamlessly facilitate rewards through blue-chip borrowing and lending protocols, we are eliminating another layer of complexity for users and our integrators and empowering them to access the benefits of DeFi.”
The introduction of wire transfers marks a significant milestone, as it is the first time crypto users in the U.S. can top up their digital asset accounts via this familiar and secure payment method. Sami Start, co-founder and CEO of Transak, highlighted the importance of this development, explaining that wire transfers are a trusted and common method for transferring funds in the U.S., and their inclusion could bolster crypto adoption and make it more accessible to mainstream users.
The integration with Kiln DeFi aligns with Crypto.com’s commitment to providing users with greater transparency and easier access to DeFi opportunities. Crypto.com SVP Esther Wong remarked, “Offering more stablecoin reward options will further empower our users to earn yield on their assets with confidence and ease.”
解説
- Kiln DeFi: Simplifies access to stablecoin rewards through integration with leading DeFi protocols.
- Crypto.com Partnership: Enhances user experience by offering more stablecoin reward options within their DeFi Wallet.
- Significance of Wire Transfers: Provides a secure and familiar payment method, potentially boosting mainstream crypto adoption.
- Future Prospects: Kiln DeFi’s innovative approach and partnerships are poised to drive further growth and accessibility in the DeFi space.