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Delchain Partners With Flare to Advance Seamless Cryptocurrency Transactions

By becoming an official Flare custodian, Delchain will help keeping safe all new tokens using Flare’s technology

[Nassau, Bahamas/April 28, 2021] – Delchain, an innovative financial digital asset service provider looking to bridge the gap between regulated financial services and blockchain, today announces its partnership with Flare, a specialized blockchain network, with the purpose of facilitating safe, peer-to-peer transactions of cryptocurrencies on the Flare platform. 

Delchain is a leading one-stop shop for blockchain financial services. It aims to bridge the gap between regulated financial services and the world of cryptocurrency. Being a licensed Financial Corporate Service Provider, the company offers a range of services including multi-currency fiat banking, digital asset custody, capital markets, initial offering advisory, and staking.

Flare is a new smart contract platform and the first such platform to apply Federated Byzantine Agreement (FBA) consensus to smart contracts. Flare is built on a modified version of Avalanche and incorporates the Ethereum Virtual Machine, which is the same smart contract engine that also runs on the Ethereum blockchain. This makes Flare immediately accessible to the majority of the blockchain development community. 

Because Flare doesn’t require a token for staking to garner security, Flare’s token, Spark ($FLR) is used to enable a trustless, non-custodial and decentralized way to enable any cryptocurrency from any other chain to be used in smart contracts on Flare. This system is launching with XRP (Ripple transaction protocol), Litecoin, XLM (Stellar) and Dogecoin. Additional tokens may be added prior to launch and after launch additional tokens may be added through token controlled governance. 

One highly successful application of smart contracts is Decentralized Finance (DeFi), which then allows for a system where all parties involved can interact peer-to-peer or with only a software-based middleman, rather than through an institution.

Flare’s unique offering as a cryptocurrency is its own native smart contract blockchain where tokenized assets are used. Through the partnership, Delchain is now officially a custodian of Flare’s native token $FLR and the assets that can be bridged onto Flare (F-Assets). By receiving coming and future tokens within the Flare environment, Delchain’s participation adds an extra layer of authority. Together, the companies will advance reputable, licensed, and seamless transactions.

“We have always remained passionate about improving our services for our clients but partnering with Flare has allowed us to show and tell our priorities and our core values, says Bruno Macchialli, the CEO of Delchain. “With Flare we found that their commitment to safety and innovation allows for consumers to continue to trust the cryptocurrency world a little bit more through facilitating secure and seamless transactions. We understand that advancement in every aspect is important to our clients and that is really what this partnership is about.”

“Flare is excited to work with Delchain as custody provider to the Flare ecosystem. Custody providers play a very important role in making the decentralized world accessible to financial institutions, says Hugo Philion, the CEO of Flare. 

About Delchain

Delchain is a full-service and licensed financial firm supporting a wide range of services that connect the world of blockchain and cryptocurrency to the regulated world of financial services. Delchain’s services include multi-currency fiat banking, digital asset custody, capital markets, initial offering advisory, and staking. 

Delchain Limited (Delchain) is a licensed Financial Corporate Service Provider, regulated by the Securities Commission of The Bahamas. Delchain, which is a part of the Deltec International Group, provides a full suite of financial services to support blockchain institutions and high net worth clients with offices in The Bahamas and Singapore.

About Flare

Flare Networks is a new blockchain network based on the Flare Consensus Protocol – the first Turing Complete Federated Byzantine Agreement protocol.

CONTACT

Name: Jacob Crompton

Phone: 1-646-480-0356

Email: [email protected]

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The information, tools and material presented in this report are provided to you by Delchain Limited for information purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or to buy or subscribe for securities or other financial instruments.  Delchain Limited may not have taken any steps to ensure that the securities or financial instruments referred to in this report are suitable for any particular investor.  Delchain Limited will not treat recipients of this report as its customers by virtue of their receiving this report. The investments and services contained or referred to in this document may not be suitable for you and it is recommended that you consult an independent investment advisor if you are in doubt about such investments or investment services. Nothing in this report constitutes investment, legal, accounting or tax advice, or a representation that any investment or strategy is suitable or appropriate to your individual circumstances, or otherwise constitutes a personal recommendation to you.  Delchain Limited does not advise on the tax consequences of investments and you are advised to contact an independent tax adviser.

Information and opinions presented in this document have been obtained or derived from sources believed by Delchain Limited to be reliable, but Delchain Limited makes no representation as to their accuracy or completeness.  Delchain Limited accepts no liability for loss arising from the use of the material presented in this document, except that this exclusion of liability does not apply to the extent that such liability arises under specific statutes or regulations applicable to Delchain Limited. This report is not to be relied upon in substitution for the exercise of independent judgment.  Delchain Limited may have issued, and may in the future issue, other communications that are inconsistent with, and reach different conclusions from, the information presented in this report.  Those communications reflect the different assumptions, views and analytical methods of the analysts who prepared them and Delchain Limited is under no obligation to ensure that such other communications are brought to the attention of any recipient of this document.

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