Everest Partners With Polygon, Delivers Regulated DeFi to the Internet of Blockchains

Everest, a decentralized financial service provider for identity verification, eKYC, crypto custodianship announces it has integrated with Polygon. Basically, the integration presents the Polygon users and developers admittance to Everest’s biometric-based identities, eKYC/AML, and regulated CRDT stablecoin for fiat-in/out worldwide to hundreds of DeFi projects in the ecosystem.

Of note, Everest provides users access to over 200+ coin pairs, earning and borrowing features, payouts, foreign exchange, and staking. Its unique biometrics-based digital identity solution empowers users to digitally verify their identity for public services and claim their social and economic rights.  

Everest brings its suite of regulated financial services to Polygon’s “Internet of Blockchain” by making its EverChain fully interoperable with the Polygon PoS chain. Since Polygon is the leading platform for Ethereum scalability and infrastructure development, by partnering with Everest, users can now access a wide array of features.

These features include eKYC and a regulated fiat-on and off-ramp functionality that allows users to effortlessly move from their assets between DeFi and traditional finance via Everest’s network of payment gateways.

Similarly, it allows for licensed and fiat-backed CRDT stablecoin for any fiat which enables the crypto-to-fiat transfers, interactions with segregated institutional pools, and traditional banking systems. In addition, it propels instant access to resources and addresses on both blockchains, bringing further versatility into their various ecosystems.

Not only that, the integration significantly expands the toolset open to developers building on Polygon. Hence, enabling them to build platform-specific DeFi protocols with native eKYC, fiat conversions, and Everest’s flexible CRDT token, which comprises the idea of programmable money.

Even more, developers can program CRDT to depict any fiat deposits and reduce its use to a distinct purpose, retailer, or timeframe. Users can also store CRDT natively in their Polygon wallets. 

Bob Reid, CEO of Everest asserts,

With interoperability between Everest and Polygon, partners and users can transact across fully-regulated bridges between DeFi and TradFi. The new technologies will enable identity-driven services, new types of DeFi, and additional capacities to be built on the Polygon network. “Projects like Polygon are leading the way on this path, working to build the infrastructure for the next-generation economy. We look forward to further integrations and innovation to bring new kinds of financial services to all EVM-compatible chains in the world.

According to the document obtained by CoinQuora, Everest aspires to expand its service offering to yield-earning saving products and investment soon with the launch of its Everwallet Alpha wallet in 44 European countries.