Keeta Teams Up With Solo For Blockchain Credit Solution

Keeta Network has joined forces with Solo to build a new kind of credit bureau that works directly on the blockchain. Keeta is a fast blockchain designed to connect Web3 technology with traditional finance. Both firms said the goal is to simplify financial data use and enhance security, so banks and fintech companies can make better decisions without risking privacy.

The project has strong backing from Eric Schmidt, the former leader and chairman of Google. Keeta will use Solo’s PASS, a digital certificate that brings together different pieces of financial information into one verified identity. This identity can then be used for lending, peer-to-peer credit, and building a financial reputation on the blockchain.

Keeta Offers Unique Blockchain Support For PASS

Keeta said it is the only blockchain that can support PASS in a way that allows institutions to confidently approve loans with verified, user-approved data. The system also works with wallets, decentralized apps, and embedded finance to enable lending and borrowing while protecting user privacy.

This new credit system will help a wide range of users including cryptocurrency developers, earners paid in stablecoins, DAOs, venture capital firms, and banks. Keeta said it will create a solid, trustworthy on-chain credit network for everyone involved.

PASS will include verification for KYC, business credentials, income, and crypto assets. Users will have control over their information, while banks receive clear insight and can manage risks better. The partnership plans to roll out verified profiles in stages, with a launch expected in 2025.

Ty Schenk, Keeta’s leader, said digital asset use is growing fast, and Keeta’s blockchain is built to handle the demands of an on-chain credit bureau. He noted that the network is the fastest available and uses strict security to give verified users quick access to credit.

Georgina Merhom, founder of Solo, said this is the first time a blockchain can turn real-world financial data into trusted, tokenized credentials for lending. She revealed that the partnership with Keeta will create a credit system that is portable and owned by the users it serves.

Keeta Enables Pseudonymous Borrowing And Lending

Keeta said users will have the ability to borrow and lend pseudonymously, which means they won’t need to reveal their full identities. This feature offers a way to protect privacy while still gaining access to credit, appealing to individuals who want financial services without exposing all their personal information.

The companies said the partnership addresses an important need to blend blockchain’s transparency with the level of trust banks require. They believe this combination will transform how credit and lending operate in the world of digital finance, creating new opportunities for secure and efficient borrowing and lending.

Keeta said the blockchain will support various financial uses, from mortgages to stablecoin payments. Schenk believes the project will bridge the gap between traditional finance and the digital asset world, opening up many new opportunities.