(CryptoPotato) Dutch financial services giant ING is collaborating with the country’s financial authority to launch a decentralized finance lending project.
ING plans to test the DeFi lending project using the Dutch Authority of the Financial Market sandbox, which acts as the gateway for innovative financial offerings.
An ING spokesperson says Bitcoin and other volatile crypto assets will not be compatible with the DeFi project.
ING has acknowledged the difficulties faced in trying real-world assets to DeFi. The banking giant has also criticized existing protocols such as Aave for now permitting the creation of money for fintech, despite their borderlessness and efficiency.
ING: NYSE is up +0.59% on premarket.
