ZkLink Teams with Pledge Finance to Offer Cross-Chain Crypto Loan Capabilities

Announcements, Blockchain, Innovation, News | January 24, 2022 By:

Crypto loan platform Pledge Finance has announced its partnership with zkLink, a provider of secure cross-chain token swaps powered by zero-knowledge proofs.

Pledge is a lending marketplace for Financial NFTs. Starting with the fixed-rate and terms bitcoin loan, Pledge V1 offers TradeFi and DeFi investors a fixed return, and in parallel, fixed cost of capital to professional crypto traders. Pledge V2 will make bitcoin loans tradable by converting bitcoin loans into Financial NFTs.

Using Zero-Knowledge Proofs (ZKPs), zkLink offers cross-chain token swaps even with isolated ecosystems, and also gives developers an efficient way to deploy multi-chain dApps. ZKPs are a groundbreaking proof system that allows for the verification of data without needing to reveal any of that data. Using ZKPs, zkLink provides cross-chain interoperability without sacrificing privacy.

Together, Pledge and zkLink can bring a whole new level of functionality to crypto, making it easier to swap interest rates between loans that exist on different blockchains, increase multi-chain liquidity for trading and lending, and integrate different crypto ecosystems.

“Partnering with Pledge helps us maintain our competitive advantage and innovative edge,” zkLink said. “zkLink differs from many other cross-chain projects because of our focus on privacy, using ZK-proofs to achieve that goal. Now, we also hope to offer cross-chain loan capabilities unfettered by ecosystem isolation.”

“Interoperability is essential for Pledge,” stated Tony Chan, CEO of Pledge, “To provide a way for users to diversify the risk profiles of their portfolios and also to facilitate interest rate swaps, it’s essential to have an interoperable, cross-chain system. And of course, one of the features users demand of crypto is increased privacy, which zkLink’s technology can help provide.”