Mt Pelerin Partners with Fusion to Power Blockchain-Based Banking Ecosystem
NEW YORK, NY / ACCESSWIRE / May 14, 2019 / Fusion Foundation, the non-profit organization building the next generation infrastructure for decentralized global finance, today announced that Swiss fintech Mt Pelerin will use Fusion to enrich its compliant security tokenization platform, which is central to the bank that Mt Pelerin is creating.
Mt Pelerin, which gets its name from the Mont Pèlerin Society, a group of economists and intellectuals advocating for economic and political freedom, introduced its open source framework in 2018 for the fully compliant issuance and management of tokenized securities. Currently working on a Swiss banking license application, Mt Pelerin expects to roll out a fully regulated tokenized bank with integrated payment, banking and trading features by 2020.
Like Fusion, Mt Pelerin embraces an open and inclusive approach to expanding the possibilities for global cryptofinance. For Mt Pelerin, it is therefore a logical complementary move to add Fusion’s groundbreaking blockchain protocol to its ecosystem, including its Distributed Control Rights Management (DCRM) technology and novel approach to Time-locking and Quantum Swapping. This partnership will increase digital asset accessibility and enrich Mt Pelerin’s next generation tokenized banking platform.
“Arnaud and his team are on an important mission to accelerate the evolution of the banking industry by bridging the crypto economy with traditional finance,” said Dejun Qian, Founder and CEO of Fusion Foundation. “We look forward to collaborating with Mt Pelerin to provide both technological support and access to our growing ecosystem of partners, including banks and governments, to support their efforts.”
Today, traditional banks are highly undifferentiated in terms of what products are available to the market, and sometimes underserve smaller customers. With its radically new business model, Mt Pelerin seeks to offer a vastly more accessible suite of products and services for all. Fusion’s protocol has been specifically designed to enable blockchain-based finance, making it the perfect fit for a forward-thinking innovator like Mt Pelerin.
“The unique interoperability of Fusion’s core functionality is of great interest for the tokenized banking ecosystem that we are building at Mt Pelerin,” said Arnaud Salomon, CEO and Founder of Mt Pelerin. “By democratizing complex financial products and services in a simple, transparent and cost-efficient way, we look forward to working with Fusion to shape the future of how the world banks.”
About Fusion Foundation
Fusion Foundation is a non-profit organization building the next generation infrastructure for decentralized global finance. By providing innovative companies and developers with the open source technology they need to build peer-to-peer time and value-based applications, the world will enjoy financial transactions that are more accessible, efficient and transparent than previously possible. Fusion’s seasoned team of industry veterans led by Founder and CEO DJ Qian, a blockchain pioneer who previously launched two top 20 global blockchain projects (VeChain and QTUM), is working to collaborate with financial institutions, cryptocurrency companies, businesses, peer-to-peer lenders, third-party app developers, academia, and the broader blockchain community. By providing the foundation that enables different cryptocurrency tokens, digital assets, off-chain values, and data-sources to be created and exchanged between the Fusion blockchain, other blockchains and financial systems, Fusion is moving ever closer to a globally accessible system for the free exchange of values. For more information, visit www.fusion.org.
About Mt Pelerin
Mt Pelerin is a Swiss company based in Geneva building the first blockchain bank. It uses the technology to create a compliant and open ecosystem where individuals and businesses will be able to issue, deposit and trade tokenized securities straight from their bank account. With this new institution, Mt Pelerin envisions a new era of financial freedom through a facilitated and disintermediated access to financing and investment for all. Mt Pelerin has the ambition to become a fully authorized Swiss bank by early 2020. For more information, a press kit is available on https://www.mtpelerin.com/press.
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SOURCE: Fusion Foundation