Acredius Adopts Cardano Blockchain for its SME Credit Services

As per the agreement between the Cardano Foundation and the Swiss bank, the latter will implement its financial service on the Cardano Blockchain. Acredius is a financial institution headquartered in Switzerland that provides lending solutions to small and medium-sized businesses (SMEs). The present fintech enterprise is venturing into the realm of cryptocurrency and blockchain technology.

On May 19th, Acredius declared its collaboration with the Cardano Foundation to integrate blockchain technology into the conventional fintech sector. As a component of this collaboration, Acredius intends to implement its smart contract on the Cardano Blockchain network.

The principal advantage of Acredius is its ability to streamline the utilization of Acredius’s lending solutions, thereby boosting the market demand for ADA, the Cardano blockchain’s indigenous cryptocurrency. The Cardano blockchain network is widely recognized for its scalability and utilization of the Proof-of-Stake (PoS) consensus mechanism. The individual behind the creation of this blockchain is Charles Hoskinson, who is recognized for his initial involvement in the Ethereum project.

Over the past few weeks, there has been a significant surge in the number of users on the Cardano network due to the escalating gas fees on the leading two blockchain networks, namely Ethereum and Bitcoin. The Defi ecosystem within the Cardano network has witnessed a notable surge in its Defi activity. Over the past 30 days, the Cardano network has witnessed the deployment of 1,000 new smart contracts. The Cardano ecosystem is experiencing a rapid expansion in both its total value locked (TVL) and overall development efforts.

The present market value of ADA cryptocurrency stands at $0.3661, indicating a decline of 8.90% during the preceding 30 trading days.