Covalent (CQT), a unified blockchain API provider, is partnering with CrossFi Chain, to data power their Banking & DeFi xApp which aims to bring financial solutions on a global scale. This collaboration aims to bolster the functionalities and capabilities of CrossFi’s Chains TestNet environment, providing users with massive amounts of structured data availability from Covalents +225 indexed chains and growing. The CrossFi xApp stands as a versatile DeFi application within the CrossFi ecosystem, empowering users to seamlessly explore various DeFi strategies, acquire XFI and XUSD across multiple chains, engage in efficient swapping, provide liquidity through the CrossFi AMM, and participate in yield farming.
At the core of this collaboration lies Covalent’s Unified API, a tool designed to seamlessly access real-time and historical blockchain data. Acting as a gateway, it allows CrossFi Chain to utilize various capabilities, such as a user-friendly blockchain API, standardized human-readable transactions, quick data retrieval, and scalable infrastructure. Through this collaboration, CrossFi Chain gains the ability to explore and extract insights from a broad range of over +(CQT) 200 blockchains indexed by Covalent.
This functionality simplifies blockchain navigation for CrossFi Chain and establishes a consistent method for accessing historical data. Covalent proves to be an effective partner in advancing CrossFi Chain operations, addressing aspects like payment processing, credit card transactions, and cryptocurrency data.
Quote from Ganesh Swami, Co-Founder and CEO at Covalent
“Our partnership with Cross Finance strengthens the foundation of seamless transactions, signifying our shared commitment to a future where blockchain technology thrives on transparency and innovation.”
Positioned at the convergence of payments, credit cards, and cryptocurrencies, CrossFi Chain facilitates non-custodial solutions for payments. Users can seamlessly pay with cryptocurrency, just like using a traditional bank card, all within the secure framework of CrossFi Chain’s DeFi structure. The CrossFi APP enables worldwide transactions by connecting non-custodial cryptocurrency wallets, ensuring the safety of users’ assets without blocking funds.
Quote from Alex Mamasidikov, Founder of Cross Finance
“We are excited to collaborate with Covalent to further enhance our testnet capabilities. Covalent’s expertise in providing comprehensive blockchain data infrastructure will be invaluable in improving the efficiency and accuracy of our testing environment. This partnership will enable us to deliver a more refined and secure product to our users.”
This strategic alliance positions Covalent as a catalyst for CrossFi Chain’s growth, enabling the platform to harness the full potential of blockchain data for optimizing operations, refining user experiences, and ensuring the security of the CrossFi ecosystem. Together, CrossFi Chain and Covalent are poised to unlock new dimensions in blockchain technology, shaping a future where seamless and transparent payments with cryptocurrency become a hallmark of the CrossFi platform, supported and enhanced by Covalent’s blockchain data infrastructure.
About Covalent
Covalent (CQT) powers the data layer in blockchain, enabling millions of users to build the new economy. It stands out for its deep commitment to democratizing blockchain data availability. Since its inception, Covalent has been helping developers, analysts, and enthusiasts with comprehensive, real-time data across over 200 blockchains. Learn how Covalent is building the Ethereum Wayback Machine.
For more information, check out Covalent’s: Official Website | Twitter | Discord | Telegram | Blog | API Guides
About Cross Finance
Cross Finance is a next-generation digital ecosystem of cutting-edge payment solutions, bridging the worlds of banking and blockchain. CrossFi seamlessly integrates these two pivotal segments of the global economy into a unified ecosystem, offering unparalleled scalability and processing speed of up to 1 million transactions per second through the core of the CrossFi Chain—a modular architecture based on Cosmos Tendermint. The Cross Finance foundation, rooted in Ethermint and Evmos, ensures interoperability between blockchains, transaction anonymity, and the integration of EVM-compatible DApps. The tandem operation of two native coins, MPX and XFI, fortifies CrossFi’s tokenomics foundation, providing users with a seamless and robust financial experience.
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