London, United Kingdom--(Newsfile Corp. - June 3, 2022) - Digital fintech company Scallop, has defied the odds to become the first DeFi company to reach the top of the world; Mount Everest. This feat was accomplished thanks to Kenton Cool, a renowned mountaineer, and Jay Kolhatkar, who reached the top of Mount Everest and hoisted the Scallop flag on the 12th of May for Jay, and 14th of May for Kenton.
Kenton Cool, a record-breaking mountaineer, and Jay Kolhatkar made history when they hosted the Scallop flag to the highest peak on Earth, Mount Everest.
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Cool is famously the only non-sherpa that has reached the top of Everest 16 times and proudly posed with the Scallop flag when he and his partner got to the peak.
Reaching this altitude of 8,849 m is in line with Scallop's #DeFiTheOdds campaign and its mission to help the DeFi sector reach the top of the financial industry. But the company isn't stopping at just Everest alone and has bigger ambitions.
"It's never easy but always worth it. We've already reached the tallest peak Everest; we're definitely aiming for the moon next!" says Raj Bagadi, the CEO of Scallop.
So far, Scallop's plan to do this is by giving users the best of both worlds.
This includes offering the interest and staking rates associated with DeFi while also giving the same level of security and support as centralized institutions. Based on the Cosmos blockchain, Scallop users can manage their fiat and crypto in one single platform.
In essence, Scallop works to act as a bridge between the DeFi and fiat world, saving customers from having to choose one or the other. Through a combination of anti-money laundering measures and know-your-customer structures, it also makes sure that all its users are protected and on the right side of regulations.
Having seen over 100,000 sign-ups in its first month alone, Scallop is looking to further expand on its products and just like its flag, take its customers to the top of the world.
Scallop is the world's first regulated DeFi fintech company. Acting as a bridge between the DeFi world, Scallop lets users manage both their crypto and fiat finances from a single app and offers the benefits of the burgeoning blockchain world as well as the security of traditional finance.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126425