HBAR Foundation Supports Akt.io to Launch First DeFi Project On the Hedera Network

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Akt.io is building integrated wealth management and payment solutions for the decentralised economy

LONDON, Nov. 11, 2021 /PRNewswire/ -- Akt.io, the innovative platform bridging DeFi, wealth management and payment services, announced today its partnership with the HBAR Foundation to support their launch of the first DeFi app on the carbon-negative Hedera Network, the most used, sustainable and enterprise-grade public network for the decentralised economy.

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," said Shayne Higdon, CEO and Executive Director of the HBAR Foundation. "This is the future of banking and the HBAR Foundation is proud to help accelerate its evolution with akt.io."

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 offers 10,000 transactions per second, near 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.

"As a company, akt.io is committed to sustainability, enhanced levels of customer transparency and prioritising the best possible price and exchange route for our users. The hashgraph consensus used by Hedera's distributed ledger technology (DLT) provides a more time-, cost- and energy-efficient mechanism to approve transactions than proof-of-work blockchains," says Gael Itier, CEO and Founder of akt.io. "We are so honoured to have the support of the HBAR Foundation in our mission and we're excited to see where this innovative form of decentralised payment technology will take us in the future."

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. Powered by the WealthHub, akt.io's proprietary multi-route exchange technology, akt.io users will have the ability to execute virtually instantaneous asset exchanges directly on the platform. Last month, akt.io launched a public initial coin offering (ICO) in Ireland for early investors in the AKTIO coin. The first version of the akt.io app is expected to launch at the end of the year with basic functionalities like an IBAN account number and the ability to purchase AKTIO coins in the public ICO sale. Other core features, like the payment card, will start to roll out in early 2022.

About the HBAR Foundation
Founded in 2021, 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. In addition to providing funding through a streamlined grant process, the HBAR Foundation acts as an integrated force multiplier through expert support across technical, marketing, business development and other operational functions that are required to scale. For additional information, please visit https://hbarfoundation.org/ or follow the Foundation on twitter @HBAR_foundation.

About akt.io
Brought to you by Automata Group, akt.io aims to transform the world of finance by leveraging cutting edge technology that enables members to make direct payments with invested capital, automate their investing with intelligent algorithms, and earn income with their digital assets, all through a single mobile app. Since its inception in 2017, the company has raised over €10 million and opened offices in Sophia-Antipolis, Paris, London, Dublin and Berlin. For more information, visit www.akt.io or www.launch.akt.io

SOURCE HBAR Foundation