DeFi Technologies plans to collaborate with Fire Labs to launch a stablecoin

ChainCatcher news, according to PR Newswire, Nasdaq-listed company DeFi Technologies announced a strategic partnership with Fire Labs to launch a compliant stablecoin issued by a U.S. licensed bank, officially entering the real-world assets (RWA) space.

It is reported that the stablecoin adopts a 105% over-collateralization mechanism, along with the issuance of compliant tokens that generate yield. Kraken, as a strategic partner, will provide access support through its institutional-grade platform, Kraken Embed.

In addition, DeFi Technologies has also completed a 19.5% minority equity investment in Fire Labs' parent company, AFT.