Real-world tokenization project Keeta plans to offer digital asset holders access to credit services, including mortgages and small business loans, through a new platform built for blockchain-native financial identity.
With crypto and blockchain adoption on the rise, Keeta Network (KTA) has announced the upcoming launch of PASS, a verified financial identity platform. The initiative is a collaboration between Keeta and SOLO, a credit data infrastructure provider, according to a press release published on June 5.
According to the Keeta team, the PASS platform is designed as a bank-grade, blockchain-native credit bureau with features including Know Your Customer, Know Your Business, and verifiable credentials for income and crypto asset holdings. These tools are intended to allow banks and lenders to extend services to crypto-native users by leveraging PASS’s on-chain visibility to underwrite credit.
“As digital asset adoption accelerates, Keeta’s blockchain is the first to tackle the scale and regulatory overhead for an on-chain credit bureau, opening the door for lending, borrowing, mortgages, stablecoin payments, and more,” Ty Schenk, chief executive officer and founder of Keeta, said in a statement.
Schenk emphasized that PASS is built to bridge the gap between traditional finance and the digital asset ecosystem.
“This is the first time that a blockchain network has made real-world financial credentials, like income, assets, and identity, verifiable, tokenized, and trusted for lending,” Georgina Merhom, founder of SOLO, noted.
Keeta, backed by former Google chief executive & chairman, Eric Schmidt, is a blockchain network with built-in compliance framework. The project is eyeing traction in the real-world asset tokenization industry currently on fire across the globe.
Global businesses and institutions can now tokenize any assets to tap into blockchain’s massive potential, with the sector growing rapidly in 2024 to currently sit at over $23 billion.
The rollout of Keeta’s on-chain credit system in partnership with SOLO will occur in phases. Verified financial profiles are expected to go live in the summer of 2025, with additional features, including a lending marketplace, stablecoin-based loan origination, and bank integrations, planned for subsequent release.