Vesto Launches on Mainnet for Decentralized Financial Services, Crypto-Linked 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 has gone live on mainnet. The protocol is facilitating transactions with customers, such as Oldham Global, demonstrating successful integrations after an extensive testing period and security audit review with ChainSecurity. 

The mainnet launch allows Vesto to access a larger pool of clients and partners and expand its offerings and use cases for the diverse services its protocol affords. The announcement comes on the heels of a partnership with Element Finance to bring DeFi to a wider swath of traditional financial institutions as demands for attractive yields and related neo-banking services increase. Other strategic Vesto partners and licensors include Circle, Yearn, MakerDAO, Onfido, Plaid and FinClusive. 

"While we have been successfully onboarding clients and beta testing for a number of months,  going live on mainnet is a game changer and we are well placed to continue demonstrating our utility to the ecosystem via our comprehensive suite of services, including white label or a la carte options," said Christopher McGregor, CEO of Vesto. "This launch represents a turning point and provides validation for our meticulous work in building a comprehensive protocol that offers a truly end-to-end solution for decentralized financial services and countless use cases beyond." 

"We chose to work with Vesto to tap into white labeled solutions that would greatly enhance our financing capabilities and allow us to benefit from DeFi and payment related opportunities, both of which have benefited us and our clients tremendously," said Bill Oldham, CEO & Co-Founder of Oldham Global, a quasi-family office managing its own funds alongside investors. 

Defining attributes of Vesto's protocol include:

Ethereum Mainnet

• Yield maximization on Ethereum with integrated DeFi protocols Element and Yearn
• Minting Vesto's wrapped ERC20 tokens on Ethereum and bulk transferring to Polygon in one single, trustless transaction over Vesto's custom bridge

Polygon Mainnet

• Proof-of-Stake (PoS) allows for fast and cost-efficient transactions on Polygon
• Earning yield generated from Vesto's wrapped ERC20 tokens on Polygon supports a multitude of use cases
• Custom bridge built on Polygon's Fx-Portal for bulk transfer of tokens to and from Ethereum

DeFi

• Along with access to a fully automated, intermediary-free money market with attractive yields, institutions can customize and decide the split of what the pool yields
• Instant liquidity, rewards paid out daily, and insurance provided by Nexus Mutual
• While the underlying asset (USDC) is earning passive yield Vesto's wrapped ERC20 token is being utilized as a currency on Polygon
•  

Secure Wallet Services

• 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 Vesto private key required for every transaction
• Compliance and regulatory features include onboarding with built-in KYC, KYB, KYT, AML controls, and all transactions conducted on-chain for real-time access to permanent, immutable records
• Fiat on/off ramp with FinClusive in the US and additional on/off ramps for the international market
• Instant conversion of fiat to crypto (and vice versa) and Circle and MakerDAO stablecoins to minimize volatility, act as medium of exchange
• Ability to link to any existing online bank account

 Crypto Token Services

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

About Vesto 
Vesto is ushering in a new era for finance by making participation in the evolving digital asset ecosystem secure and user-friendly, embedded within a compliant framework. Vesto delivers an end-to-end solution that allows clients to leverage crypto services via an agile, scalable, and compliant protocol (as a white label service). Its on-chain decentralized services provide access to the most advanced crypto banking, transaction, and yield generation offerings available.  

Follow Vesto on Twitter, LinkedIn and learn more at vesto.io 

Media Contact: Armel Leslie, Peaks Strategies, [email protected] 

SOURCE Vesto

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED