The Swiss lender established a partnership with the Cardano Foundation and under this partnership, it will deploy its financial service on the Cardano Blockchain.
Acredius is a Swiss-based lender firm, which provides lending services for small and medium-sized businesses (SMEs). In short, this is a traditional fintech firm & now it is stepping towardthe crypto & blockchain sector.
On 19 May, Acredius announced its partnership with the Cardano Foundation to utilize blockchain technology in the traditional fintech world.
Under this partnership, Acredius will deploy its smart contract on the Cardano Blockchain network.
The main advantages for the Acredius will be to allow an easy door for the people to deal with Acredius’s lending services and in return, the use case of ADA, a native coin of the Cardano blockchain, will surge.
Cardano is a popular Proof-of-stake (PoS) scalable blockchain network. Charles Hoskinson is the founder of this blockchain, who is also known for his early phase contribution to the Ethereum project.
Over the past few weeks, the Cardano network saw an inflow of huge numbers of users because of the surging gas fees on the top two blockchain networks (Ethereum & Bitcoin).
The Cardano network saw a very high increment in Defi activities in its Defi ecosystem. Over the last 30 days, the Cardano network saw deployment of 1,000 new smart contracts. Overall development activities as well as TVL are rapidly increasing in the Cardano ecosystem.
Ada price action
The current trade price of ADA coin is $0.3653 & this trade price is 9.44% down over the last 30 days of trade price.
30 days ago, ADA price was trading at nearly $0.46 but after that ADA trade price plunged & now struggling to cross $0.37. The all-time high of ADA price is $3.10.