The decentralized finance (DeFi) platform, Kinto, has officially migrated to the Arbitrum ecosystem, leveraging the advanced Arbitrum Nitro technology stack.
⛩️ Kinto Breaking Update⛩️We’re moving from @optimismFND to @Arbitrum, becoming the first-ever Arbitrum Layer 2!The future of finance needs scalability, security and a seamless user experience.Arbitrum 🤝 Kinto.Together, we go further.Read more on @TheBlock__:…
— Kinto (@KintoXYZ) November 21, 2023
Kinto’s primary focus is to facilitate the transition to on-chain finance, putting a strong emphasis on compliance and user experience. The platform offers features such as permissionless KYC/AML and native account abstraction.
Ramon Recuero, the Founder of Kinto, expressed enthusiasm about the move, stating, “Arbitrum is the indisputable leader in the rollup space regarding adoption, TVL, and technology maturity. Arbitrum is a community-driven ecosystem with thousands of projects being built by crypto-natives and we are excited to add Kinto into that discussion.”
The decision to migrate to Arbitrum was driven by its efficient and mature platform, aligning with Kinto’s goals of matching traditional finance guarantees and reducing friction and costs associated with asset issuance.
Anuja Khatri, Head of Growth at Arbitrum Foundation, shared excitement about Kinto’s potential impact, saying, “Kinto will drive innovation and deliver cutting-edge solutions that empower users and advance the adoption of blockchain technology and we’re happy that they elected to do so within the Arbitrum ecosystem.”
This move is anticipated to attract additional institutional partners to both the Arbitrum and Ethereum ecosystems. Kinto places a strong emphasis on security through mandatory KYC and a proactive approach to preventing smart contract exploits and scams.
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