Lowering barriers for the underbanked and making it possible to use financial services and even crypto mining, MELD and Cudos have announced that they are teaming up to give support to each others’ users.
Different, Yet Aligned: The MELD/Cudos Partnership
At first glance, MELD and seem to be very different platforms, with each network offering a completely different set of services that do not seem connected. MELD is a platform that is designed to offer a highly accessible banking service to people from all walks of life. Whether it be having savings, borrowing, or even investing in cryptocurrencies. WhileCudos is a next-generation cloud computing service created for the DeFi, metaverse, and web3.0.
However, both platforms are also very similarly aligned. They offer novel solutions for the public and as such, the decision to combine their efforts is a natural progression.
MELD users will be able to access the highly efficient cloud computing resources of Cudos through the MELDapp set or functions. This will give the banking service users another income stream through which they will be able to acquire cloud-based mining services. Cudos provides a highly intelligent and easy cloud mining operation by renting out computing resources that can fit different kinds of budgets.
The integration also means that Cudos will be able to accept the complete set of MELD assets. These include wrapped versions of the largest cryptos ($mBTC, $mETH), stablecoins ($mUSD, $mEUR and $mYEN) but also the native $MELD token.
On the other hand, Cudos users will gain access to the complete banking service of MELD. Since MELD is a platform that gives traditional-like financial services in a decentralized manner, Cudos users will be able to use its investment, savings, borrowing, and lending programs to increase their wealth, no matter how little or large.
What Does MELD Offer?
The current financial system is broken. Excessively high regulations designed to protect the wealthy, high costs of operations, and a pure profit mentality means that more than 2 billion people across the globe have either partial or no access to banking systems. This effectively creates a financial disparity and cuts off these people to services that billions across the world take for granted.
From an economical point of view, the numbers are even graver. It is estimated that if these people can become a part of the mainstream financial network, the world will be able to tap around $15 trillion worth of unexplored markets.
MELD understands that unless regulations are revisited and changed for the better, this is not possible. The alternative is to leverage blockchain, decentralization, and cryptocurrencies. The disruptive financial system does not have barriers and MELD provides a plethora of these. The twist is that these are created just like any other bank, letting people easily navigate the process and not require any experience in handling the complex DeFi operations normally associated with cryptocurrencies.
Why Cudos?
There is a dearth in the computing requirements of today. Hardware is expensive and networking requirements are increasing every day. The solution lies in cloud computing, where the power can be rented on a rolling basis. Cudos offers a cutting-edge solution for not only today but the future.
Be it DeFi, web3.0, or the metaverse, Cudos has it all covered. Other features of the decentralized network include the ability to connect with different blockchains (thus enabling cross movement of not only data but assets), working on layer 1 and layer 2 at the same time, and even offline and online services.
