Florence Finance partners with LTO Network as the first user of Proofi

Main Published on: Aug 04, 2022 Last updated: Aug 04, 2022

Innovative DeFi protocol, Florence Finance taps award winning Dutch blockchain, LTO Network to use their Proofi software and Decentralized Identities tech to usher in a second coming of the decentralized financial revolution.

Florence Finance’s protocol acts as a bridge between cryptocurrency lenders and real-world borrowers. This helps solve the SME credit funding shortage whilst tackling the lack of real-world lending opportunities within the crypto market.

In order to erode privacy concerns and preempt regulatory requirements for their cutting edge approach, Florence Finance will implement LTO Network’s Proofi software to allow KYC and AML operations on DeFi wallets whilst maintaining the privacy of the wallet holder.

Florence Finance founders have decades worth of experience in investment banking. Chiel Ruiter, the Duke of Florence himself was a Financial Institutions banker in The Netherlands for a large part of his investment banking career and Leo Greve (senior advisor & growth coach) has also spent most of his career advising and financing financial institutions with more of a capital markets focus.

Along with LTO Network’s institutional and enterprise friendly history through their work with leading institutions such as the United Nations, Dutch Government, Dutch Chamber of Commerce and IBM, the two organizations are uniquely positioned to understand regulatory frameworks and aim to be ahead of any upcoming requirements which both agree is around the corner.

“We are pretty certain that regulations will be coming over time and Proofi will allow us to be one step ahead of them and in doing so provide confidence to users of our protocol.” - Chiel Ruiter

“Having Florence Finance as the first partnership for Proofi is a match made in heaven as it showcases our technology’s ability to serve the real-world and decentralized worlds of finance.” - Rick Schmitz

Integration will start in the coming weeks. Once complete, a public announcement will be made along with further insights into the partnership.

About LTO Network

LTO Network is Europe's most advanced blockchain project. It is fully decentralised and highly efficient. Currently it is used worldwide by businesses, governments and institutions like the UN, Dutch government and more.

The network has several technologies that can be used to provide solutions for decentralized data security, digital identities, privacy and the ownership of digital assets and digital collectibles.