San Francisco, Calif., March 19, 2021 (GLOBE NEWSWIRE) – Cryptocurrencies have often been shunned or ridiculed by mainstream media, but they continue to enjoy wider adoption as institutions like Robinhood and PayPal have takes the first step by allowing users to buy assets like Bitcoin and Ethereum. Now that users can hold Bitcoin, they are asking for open funding features so that they can earn interest on their digital assets as well.
Today, the leading DeFi encryption platform, Kava, announced the acquisition of professional service provider Crank Studio to catalyze the adoption of DeFi security while improving the experience for all users. By improving the UX / UI, the customer makes more informed decisions about their investments and money.
It has taken Bitcoin over a decade to achieve mass adoption today and has encountered many obstacles along the way. As the company now enters the “early majority” phase of cryptocurrency adoption, it is up to the industry to continue to push the boundaries. Lowering the barriers to everything the crypto ecosystem has to offer is the next logical step and that is why Kava Labs decided to acquire Crank Studio.
The biggest emerging market of our time is called open finance and decentralized finance or DeFi for short. Despite substantial success in attracting capital from experienced cryptocurrency users, this approach yielded initial success, peaking with over $ 40 billion in crypto assets spread across many different protocols and services. However, this amount is a fraction of the liquidity that can be pumped into DeFi projects once all users can access a professional and convenient user interface and user experience.
In its current form, the DeFi space is not suitable for novices. Without technical expertise, gaining an understanding or interfacing with DeFi applications is an almost futile task.
That narrative needs to change quickly, and mature companies like Crank Studio can prove to be a big catalyst for Kava Labs.
Canadian UX and UI design firm Crank Studio is well versed in customizing experiences for high-end global clients. Their frictionless user interface experiences will help catalyze the onboarding of new cryptocurrency users to DeFi. Following the acquisition of Crank Studio by Kava Labs, both teams will accelerate the growth and engagement of Kava’s DeFi platform, products and services.
Crank Studio founder Peter Mancini adds:
“Crank Studio believes in Kava’s mission to unlock financial opportunities for everyone. Through our UI / UX and system design expertise, we aim to unlock a new level of user engagement in products and services. Kava DeFi. We are delighted to dedicate our talent and resources fully to the mission of Kava. ”
Unlike other DeFi platforms, Kava stays ahead of the typical flow of the adoption curve because it is the most trusted solution from financial institutions. The acquisition of Crank Studio will strengthen Kava’s focus on direct integrations for businesses, such as Binance, Huobi, and BitMAX, and on consumer-centric applications. Delivering a quality user experience will catalyze the unlocking and integration of more users into Kava products and services while increasing the security of the platform.
The first majority entering the DeFi industry today will be pale compared to the next wave of digital asset adoption. Kava’s forward-thinking approach and focus on delivering better UX and UI for consumers and institutional players will offer a glimpse of what the future DeFi landscape might look like going forward.
Kava is a multi-asset DeFi platform that offers stablecoins, loans, and other financial services to users of major cryptocurrency assets including BTC, XRP, BNB, and ATOM to name a few- a few. The Kava platform has two types of tokens, the KAVA token and the USDX stablecoin where the KAVA token is the native token of the Kava blockchain which is an integral part of the security, governance and mechanical functions of the platform. Users can guarantee their crypto assets in exchange for Kava’s stablecoin, USDX. Kava stablecoin offers users a higher yield of interest than with a traditional savings or savings account at a bank, but unlike traditional savings accounts. To find out more visit Kava.io.
About Crank Studio
Founded in 2010, Crank Studio is an independent UI / UX design communications company that combines technology and creativity to strategically position brands in the marketplace and drive business results. With a global client base, Crank Studio has delivered design results in a variety of industries including; cryptocurrency, professional services, manufacturing, property management, entertainment, athletics, etc.
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