FOREIGN EXCHANGE DONE IN THE CRYPTO WAY
Pendulum is a decentralized blockchain that aims to bridge traditional finance with decentralized finance (DeFi), providing on-chain solutions for cross-border payments, Forex trading, and financial inclusion.
WHY WE INCUBATED PENDULUM?
Pendulum addresses a crucial gap between fiat currencies and decentralized finance. As the world moves towards greater blockchain adoption, Pendulum’s platform has the potential to revolutionize how fintech and businesses handle cross-border transactions, particularly in underserved markets. Its integration with Polkadot and Stellar enhances both security and scalability, positioning it well in a rapidly growing market.
PENDULUM’S UNIQUE USE CASE
Pendulum excels in providing a novel solution to the fiat Forex market by leveraging blockchain technology to enable decentralized, on-chain foreign exchange (Forex) trading. The global Forex market is the largest financial market, with a daily volume of over $6.6 trillion. Pendulum integrates fiat-backed stablecoins and automated market makers (AMMs) into DeFi, making it possible to trade fiat currencies in a decentralized manner without intermediaries. This approach not only increases accessibility but also reduces costs and provides greater transparency, particularly for exotic and local currencies.
Pendulum’s Spacewalk bridge facilitates the seamless connection between the Stellar and Polkadot ecosystems, enabling the transfer of fiat tokens and enhancing cross-chain interoperability. By tapping into the fiat liquidity available on Stellar, Pendulum opens new opportunities for decentralized applications in the foreign exchange market. Its Substrate-based architecture ensures scalability and security, supporting applications such as cross-border payments and Forex-optimized AMMs that deliver faster, more transparent, and cost-efficient financial transactions.
Key team members:
- Meinhard Benn – Co-founder of SatoshiPay
He has been focusing on implementing payment services using blockchain technology for almost 10 years.
- Dr. Torsten Stübe – Co-Founder & CTO of SatoshiPay
Dr. Torsten was a tech lead at Stellar network, one of the oldest blockchain in the space. He holds a PhD degree in TU Dresden.
- Alexander Wilke - Co-Founder of SatoshiPay
Alexander co-founded several software development companies, and has been in managerial positions in multiple companies such as MyHammer AG and Jamba GmbH.
Through a direct incubation, we are determined to trailblaze the possibility of application of blockchain technology in Forex market. For more information, please visit Pendulum website.
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