Keeta collaborates with SOLO to unveil a credit bureau operating on the blockchain platform.
A Revolutionary Stride in Bridging Tradfi and Crypto: Keeta's PASS Platform
Step into the exciting world of Keeta's latest project, PASS – a cutting-edge, blockchain-native financial identity platform – designed to merge the traditional financial scene with the burgeoning digital asset ecosystem. Keetaland (KTA-4.23%) made the grand announcement in collaboration with credit data infrastructure provider SOLO, as unveiled in a press release on June 5.
The tech whizzes behind Keeta envision PASS as a robust, bank-grade credit bureau that runs on the blockchain, packed with features such as Know Your Customer (KYC), Know Your Business (KYB), and verifiable credentials for income and crypto asset holdings. By offering these tools, Keeta aspires to enable banks and lenders – bigwigs of the traditional finance world – to reach out to their crypto-loving brethren, granting them access to credit services hitherto inaccessible.
Ty Schenk, Keeta's influential CEO, expressed his enthusiasm by stating, "As digital assets burst onto the scene, Keeta's blockchain is the pioneer addressing the scale and regulatory challenges of an on-chain credit bureau, paving the way for lending, borrowing, mortgages, and more." Schenk underscored his belief in PASS's mission to serve as a bridge between traditional finance and the digital asset realm.
Georgina Merhom, founder of SOLO, added, "This marks the first time a blockchain network has managed to make real-world financial credentials, like income, assets, and identity, verifiable, tokenized, and trusted for lending."
Backed by industry giants like Eric Schmidt, ex-Google CEO and chairman, Keeta proudly carves out a niche in the red-hot sector of real-world asset tokenization. Boasting a global footprint, these businesses and institutions can now tokenize their assets to harness the immense potential of the blockchain, with the sector poised to skyrocket from its current value of over $23 billion in 2024 [1].
The collaboration between Keeta and SOLO will roll out in phases, with verified financial profiles slated to go live in the summer of 2025. Future updates include a lending marketplace, stablecoin-based loan origination, and bank integrations, signifying a bold step forward in the fusion of traditional finance and digital assets.
An Unprecedented Leap: Keeta's Price Soars to New Heights
Meanwhile, market enthusiasm for Keeta continued to simmer, with its price skyrocketing to a record-breaking all-time high amid a 14% spike following the exciting PASS announcement.
In Depth: PASS's Key Features & Forward-looking Developments
- KYC & KYB: Verifying users and businesses identities is crucial in ensuring regulatory compliance, and PASS offers exactly that [2].
- Verifiable Credentials: Along with verifiable credentials for income, the platform also adds credibility to a user's crypto asset holdings, enhancing the accuracy of credit assessments and lending decisions [2].
- On-chain Visibility: PASS's transparent and secured on-chain visibility ensures lenders have access to real-time data, enabling them to assess creditworthiness easily [3].
- Instant & Secure Access: Users can access and enjoy financial services instantly and securely through PASS [1][2][3].
What Lies Ahead: Keeta's Roadmap to the Future
- Integration with Traditional Finance: Harnessing blockchain technology, PASS aims to bring traditional financial institutions and crypto-natives together, offering a broader range of financial services and fostering financial inclusivity [1].
- High Throughput & Security: Keeta's blockchain offers lightning-fast processing capability, enabling it to manage up to 10 million transactions per second, making it suitable for large-scale financial applications [4].
- Regulatory Alignment: The platform is designed to navigate complex regulations effectively, receiving support from key figures such as Eric Schmidt, ensuring it remains aligned with emerging blockchain standards and reforms [4].
- Market Growth & Partnerships: With the launch of PASS and the mainnet, Keeta stands to capitalize on rising demand for blockchain-based financial infrastructure, offering substantial growth prospects for investors along with promising collaborations [4].
- The revolutionary PASS platform, a collaboration between Keetaland and SOLO, is set to bring a significant shift in the finance sector by merging traditional banking with the digital asset ecosystem, providing bank-grade credit bureaus on the blockchain and offering features like KYC, KYB, and verifiable credentials for both income and crypto assets.
- PASS's key features include the ability to verify users and businesses identities, enhance the accuracy of credit assessments and lending decisions through credible data on crypto asset holdings, and provide instant, secure access to a broad range of financial services.
- In the future, PASS aims to integrate with traditional finance institutions, offering high throughput and security suitable for large-scale applications, navigating complex regulations effectively, and capitalizing on the rising demand for blockchain-based financial infrastructure, ensuring substantial growth for investors and promising collaborations.
- Following the announcement of the PASS platform, Keeta's price surged to a record-breaking all-time high amid market enthusiasm, signaling a new phase in the fusion of traditional finance and digital assets, and further establishing Keeta as a leader in real-world asset tokenization backed by industry giants like Eric Schmidt.
