EMURGO and Ergo partner up to create blockchain-based financial solutions for Cardano

EMURGO, a blockchain company tasked with driving the adoption of Cardano, has announced a strategic company with Ergo, a PoW protocol providing financial contracts. The company said that the two will jointly explore stablecoins and financial services applications, while Ergo’s native token ERG will be integrated into Yoroi Wallet.

EMURGO to offer tailored DeFi solutions with Ergo

Following the major developments in the Cardano blockchain, the companies tasked with facilitating its adoption have begun announcing new partnerships and projects that are set to bring Cardano to the masses.

The latest major news to come out of EMURGO is that the company has partnered with Ergo, a proof-of-work (PoW) platform that facilitates financial contracts. Founded by former IOHK engineers, Ergo provides customized privacy for stakeholders on its network.

According to the announcement, the two companies will collaborate on research and development of stablecoins, as well as providing financial services through decentralized applications.

“EMURGO’s strategic partnership with Ergo aligns with the objective to also meet the increasing needs for tailored decentralized financial (DeFi) solutions moving forward,” the company said.

Utilizing Ergo’s private smart contracts

Although over $1 billion in total value is currently locked away in DeFi solutions, both Emurgo and Ergo believe that there is huge potential to grow. Emurgo described its partnership with Ergo as “strategic,” as it will allow it to develop solutions that are in line with the rising demand for DeFi services.

The first major development to come out of the partnership is the integration of ERG, Ergo’s native cryptocurrency, into the Yoroi Wallet. The company’s token will be the first coin aside from Cardano’s native ADA to be supported by Yoroi, a lite Cardano wallet that is set to process various dapps in the future.

“The integration with EMURGO’s flagship Yoroi Wallet will place Ergo before one of the largest user bases in the crypto space,” Ergo core developer Alexander Chepurnoy said in the announcement.

Mentioned in this article

Cardano EMURGO Yoroi Wallet

Ad

CryptoSlate on X x.com/cryptoslate

Join our X community for real-time crypto news and expert insights.

Follow @cryptoslate

Ad

Latest Cardano Stories

Cardano’s Charles Hoskinson vows legal action over Wyoming stablecoin snub

Stablecoins 18 hours ago

Wyoming's stablecoin commission faces backlash from Cardano for bypassing inclusive blockchain procedures.

Cardano’s Charles Hoskinson nominates Coinbase’s Brian Armstrong for Donald Trump’s crypto czar

People 5 days ago

Hoskinson cites Armstrong's leadership at Coinbase as key to overcoming regulatory hurdles and promoting industry unity.

Memecoin returns were 6x higher than crypto market average over past 30 days

Memecoins 1 week ago

Meanwhile, tokens related to AI, social, and data availability narratives registered negative performances in the period.

Robinhood adds support for SOL, ADA, XRP, and PEPE for US investors

Adoption 2 weeks ago

SOL and ADA are back on Robinhood's offerings after more than a year since they were delisted over regulatory concerns.

Latest Alpha Market Report

Available exclusively via

Polymarket: A revolution in prediction markets

Andjela Radmilac · 3 days ago

CryptoSlate's latest report dives deep into Polymarket's evolution, its pivotal role in high-stakes prediction events like US elections, and the implications of its controversies on its market position.

Latest Press Releases

View All

Kernel Secures Binance Labs Funding to Redefine Restaking on BNB Chain

Chainwire 12 hours ago

Web3 Game Studio Qooverse Secures Investment in Round Led by Paper Ventures

Chainwire 14 hours ago

Sui Foundation Teams up with Babylon Labs, Lombard and Cubist to Bring Programmable Bitcoin to Sui

Chainwire 15 hours ago