Finoa, a Berlin-based cryptocurrency custody firm, is expanding its services to offer its clients a secure and compliant way to access decentralized finance (DeFi).
FinoaConnect, a wallet integration with selected DeFi platforms, web3 applications and blockchain governance scenarios, will allow over 300 regulated institutions to participate in DeFi lending pools and automated market making, while ensuring they comply with anti-money laundering (AML) rules and know their trading partners.
The firm said on Tuesday that it had received license approvals from BaFin, the German financial regulator, earlier this year.
FinoaConnect leverages the firm’s custodial wallet infrastructure to provide easy and safe access to a curated list of permissioned DeFi opportunities.