Wellfield Technologies (WFLD.V) and European software company Exaud LDA paired up today to establish a development hub in Portugal to support the Seamless development pipeline.
The specifics of the partnership have the two companies working on finding solutions for the Seamless brand, including addressing some of the necessary needs of the DeFi ecosystem. A few of these are making Bitcoin compatible with DeFi; cross blockchain trading; and decentralized prime broker-like services.
“It is our firm belief that DeFi will reinvent global finance. Scaling our commercialization efforts through an additional development hub will ensure that Wellfield remains at the forefront of the evolution of the DeFi ecosystem, building on the scheduled 2022 launches of several solutions under our Seamless protocol-layer brand. To this point, our team has been focused on developing the capabilities within Seamless to address some of DeFi’s biggest technical challenges, but solutions to these immediate challenges are just the beginning. Securing additional high demand developer talent gives the Company the additional depth required to continue building the ecosystem around Seamless and powering the financial applications of the future with our critical infrastructure. We are fortunate to benefit from the experience and expertise of Exaud, our partners in Portugal,” said Levy Cohen, CEO of Wellfield.
This is part of Wellfield Technologies overall goal of unlocking the power of decentralized finance through the construction of open and easily accessible decentralized protocols and blockchain based consumer products.
Even though they’re primarily only going to be looking at Seamless and its functionality with this partnership, they’re interested in looking beyond. Wellfield has noted other important areas for DeFi powered apps like MoneyClip, their other subsidiary, as well as strengthening Seamless’ ecosystem and solution suite. Adding to both MoneyClip and Seamless’ ecosystem will be on the docket next for the development hub once they’re done dealing with the issues already established.
—Joseph Morton
Full disclosure: Wellfield Technologies is an equity guru marketing client.
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