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Republic Protocol partners with Wyre to provide liquidity and KYC to first crypto dark pool

Republic Protocol, the crypto dark pool ecosystem today announced a new partnership with Wyre, the blockchain payments company to bring liquidity, and KYC service to RenEx. Wyre specializes in infrastructure to bridge the gap between traditional banking and digital assets. Pairing this expertise with Republic’s RenEx dark pool will serve as an integral tool in Wyre’s OTC service.

Working together, Republic Protocol and Wyre will seek to usher in a new era in dark pool trading, merging traditional financial infrastructure with the world of cryptographic finance.

The partnership will focus on the following areas:
  • Wyre will be providing liquidity to RenEx – and serve as a Key Liquidity Partner with Wyre’s OTC trading desk. By providing liquidity to RenEx, Wyre will be participating in Republic Protocol’s Liquidity Incentive Program, which consists of a revenue sharing agreement emanating from RenEx dark pool fees.
  • Wyre will be providing KYC integration services to RenEx – Know Your Customer (KYC) is a compliance reality that the decentralized finance world must move towards and we are setting precedence by partnering with an industry leader. Check out Wyre’s recent blog covering the importance of proactivity 
  • Wyre will assist in onboarding OTC traders to RenEx – through Wyre’s broker services. Wyre will use its existing network to ensure OTC traders can gain exposure to and have easy access to RenEx.

On what is next, Taiyang Zhang, CEO, Republic Protocol said:

“Our development team has created a custom decentralized sMPC based on research we pioneered in the space that is optimized explicitly for decentralized dark pools, and the team is continuing to push the envelope for what’s possible with Republic Protocol; including an upcoming research piece on zkSNARKS uses and tools. These advancements when coupled with legacy financial institutions will open new possibilities for both Wyre and Republic Protocol. With the release of our Mainnet just weeks away, we are thrilled to have the Wyre team join us on this journey.”

Source:Republic Protocol

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