Ontology announced on March 5th that it will sign a strategic partnership with Shum Finance, which provides decentralized financial services (DeFi).
Through this new partnership, Shum Finance will apply Ontology’s public chain finance network model to its decentralized financial services platform in order to secure technologies for smart contracts and provide user-focused cryptocurrency DeFi services.
Ontology has built a secure and unique smart contract environment for its public chain solutions, providing Shum Finance’s reliable DeFi service to actively support data privacy and security during on-chain computing.
Jun Li, CEO of Ontology, said,
“By providing a unique on-chain solution for Ontology, we are enhancing the security of all running data within the Shum Finance platform to build trust-based services for mortgage loans while reliably protecting users’ assets.”
Shum Finance CEO Alex Leung said Ontology was behind the partnership and that he is interested in Ontology’s financial solution 2.0 which is designed for decentralized financial services with public chain compatibility.
Shum Finance said it will launch Shum DeFi Service, its decentralized financial services platform, within the first quarter, providing cryptocurrency mortgages and decentralized blockchain financial services around the world.