Pendulum
Onchain Banking Reimagined: Pendulum and Scallop’s Dynamic Partnership
We recently collaborated with Pendulum — an innovative blockchain solution that modernises conventional finance. Together we aim to boost financial inclusion and bridge the gap between traditional finance and DeFi. We are leveraging our expertise and technologies to bridge the gap between traditional finance and the DeFi space.
A shared vision
Pendulum is “The missing link between Fiat and DeFi.” Pendulum’s mission is clear: to create an open financial future by optimising foreign exchange through smart contracts. They merge traditional financial services with DeFi, making it easy for anyone to tap into DeFi’s potential. Same as ours!
By tokenising fiat in collaboration with global partners, Pendulum unlocks substantial liquidity and democratises DeFi access. Our focus on interoperability sets us apart, achieved through Spacewalk, a trust-minimised bridge connecting Stellar and Polkadot ecosystems.
At the same time, Scallop presents an innovative cross-chain banking protocol that introduces a comprehensive range of banking products. At our core lies a rapid Byzantine fault tolerance blockchain integrated with a robust KYC & AML module. By incorporating ZK Rollups, we also introduce specialised asset privacy features that empower users with enhanced financial discretion.
An organic synergy between EVM and Polkadot
Scallop and Pendulum have combined forces to merge the best of traditional and decentralised finance.
Using Polkadot’s Substrate power, Pendulum aims to enhance Scallop’s fiat-focused smart contract blockchain. The mastermind behind Pendulum, SatoshiPay, has been in payment infrastructure since 2014. This partnership aims to make it easy for traditional finance fans to enter blockchain. Pendulum and Scallop blend their networks, so different communities can connect.
Recognising the importance of collaboration across different communities, Pendulum Chain and Scallop utilise our networks to facilitate interactions between diverse groups. Through cross-community marketing initiatives, we aim to encourage the exchange of ideas, resources, and opportunities.
Scallop’s EVM infrastructure and Pendulum’s Polkadot origin synergise effectively. They combine their strengths to create easy fiat on and off ramps for users, ensuring remarkable convenience and flexibility. The Spacewalk bridge is a prime example of this union, linking Polkadot parachains and the Stellar network, where stablecoins tied to fiat currencies thrive. As Spacewalk expands to include Ethereum and EVM chains, it aligns seamlessly with Scallop’s mission. This collaboration narrows the gap between traditional finance and DeFi.
Focus on regulations and compliances
With a strong focus on regulatory compliance and top-notch security, Pendulum Chain and Scallop establish a secure environment. This ecosystem benefits users, financial institutions, and regulators alike. They strictly adhere to industry standards and regulations, maintaining the integrity of their services and building trust among individuals participating in blockchain-based financial activities.
“Together with Scallop, we are shaping the future of finance, where seamless integration of fiat and blockchain technology empowers individuals and businesses to thrive in a decentralised ecosystem.” Daniel Kisluk, Pendulum Co-founder & CMO.
“By partnering with Pendulum, Scallop spearheads a transformative leap towards a more interconnected financial landscape. Our collaboration unites the disruptive potential of blockchain with the time-tested trust and dependability of established financial infrastructure, redefining the boundaries of a truly interconnected financial ecosystem.” Raj Bagadi, Scallop CEO.
Pendulum and Scallop seek to converge cutting-edge blockchain mechanics with secure banking resolutions. Join our communities to become early participants in the shifting paradigm.
About Pendulum
Allowing traditional finance fiat services to integrate with DeFi applications such as specialised forex AMMs, lending protocols, or yield farming opportunities. Developed by SatoshiPay.
Stay connected with Pendulum
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