Qredo Partners With Sweat Economy to Extend Its Custodial Services to SWEAT Users

Qredo Partners With Sweat Economy to Extend Its Custodial Services to SWEAT Users

Decentralized digital asset management platform, Qredo has announced today that it has entered a custody partnership with Sweat Economy on Sweat Wallet, a move-to-earn platform that focuses on health and fitness.

Sweat Economy is a growing decentralized protocol that seeks to promote healthier living by encouraging people to move more. The platform allows users to mint its SWEAT tokens with their physical movement and access it via the Sweat Wallet app. 

Sweat economy uses this approach to seamlessly incentivise increased movement rates with financial reward, with 1000 steps equivalent to one SWEAT at some point.

Qredo, on the other hand, is a decentralized digital asset management infrastructure and product suite designed to unlock new opportunities for institutional investors in digital assets and decentralized finance. The platform allows users to seamlessly transfer and settle crypto assets like BTC, ETH, BNB Chain, Solana, Polkadot and ERC-20 tokens. After that, it secures the assets via its advanced Gen 2.0 multi-party computation (MPC).

According to the announcement, the new partnership will see Qredo providing custody services for SWEAT assets, secured by its innovative decentralized Multi-Party Computation encryption and institutional-grade governance controls. The new development comes as good news to all Sweat Wallet app users as they can now get moving with confidence that their assets are backed by Qredo, one of the most robust security infrastructures currently available in the crypto market.

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Speaking on the latest collaboration, the COO at Qredo, Josh Goodbody said;

“This partnership demonstrates the value of Qredo’s custodial network and the game-changing security it can provide to all types of stakeholders active in Web3.”

Oleg Fomenko, Co-Founder at Sweat Economy also commented on the partnership expressing the team’s delight on the development;

“For a mass market crypto product such as SWEAT, wallet and key security can throw up huge adoption barriers.  After testing a number of multisig custodial solutions we are excited to partner with Qredo given their innovative approach to decentralized custody and the cross platform liquidity that they offer for our millions of new crypto users.”