Auckland, New Zealand, Feb. 03, 2022 – The Ottó Blockchain team is pleased to announce a groundbreaking new partnership with Immersve.
The Ottó Blockchain delivers up to 2,000 transactions per second and was built to integrate blockchain-based services and applications on the fast and performant infrastructure of PLUGnet. With Ottó, network congestion and scalability are a thing of the past, and Ottó partners, enterprises, and developers can seamlessly connect to and interact with the next generation of compliant DeFi applications being built on PLUGnet – while also benefiting from on-chain KYC and compliance delivered by Ottó.
The partnership with Ottó is an important part of the project roadmap for Immersve, which focuses on DeFi for the metaverse, integrated Web3, and real-world payment experiences. Immersve leverages collateralized loans and borrowing that are supported by decentralized protocols to help people transact in real life and earn NFTs as rewards. The platform also brings the best of Web3 technologies to everyday spending and increases the security of user assets and identity.
One of the newest products from the Immersve team is the world’s first decentralized credit card. This credit card will be accepted by millions of merchants all around the world, and this is an initiative for which KYC and compliance will be critical to success. The new credit card will also be integrated with and will work seamlessly with DeFi protocols, and these features underscore the synergies and overlaps that exist between Immersve and Ottó.
“The innovation in digital assets, programmable transactions, and Web3 are developing the next generation of e-commerce,” said Jeffrey McDonald, Founder of Ottó Blockchain.
As DeFi products, services, and applications gain mainstream adoption, and as bleeding-edge technologies such as Web3, NFTs, collateralized borrowing, and metaverse applications onboard more and more users, the need for reliable, high-performance, low-cost, and efficient cross-chain interoperability and identification solutions is critical. As the Immersve team continues to build new products and reach real-world clients – and as global merchants start to participate in the DeFi space and transact using DeFi solutions – Ottó will provide the critical services to ensure safe, secure, and high throughput transactions for the many users, applications, blockchain networks, and platforms that are part of the rapidly expanding DeFi ecosystem.
About Ottó Blockchain
Ottó Blockchain is the first KYC-compliant curated smart finance blockchain. It leverages NFT identity attestation and multichain functionality to prove the identities of users to service providers, custodians, and other market participants while allowing the user to maintain privacy.
Media Contact:
Robert Penington
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