New York, April 26, 2019 (GLOBE NEWSWIRE) -- Fusion Foundation, the non-profit open source developer building the next generation infrastructure for decentralized global finance, today announced that it has been selected by Directed Acyclic Graph-based (DAG) interoperability protocol, Ferrum Network, to serve as a technological pillar for Ferrum’s cross-chain interoperability network.
Ferrum is a decentralized interoperability network that enables the management, transaction and exchange of any digital asset without taking custody of users’ assets. Built on a DAG network, Ferrum is faster, less costly and more scalable than traditional blockchains. Ferrum’s high-speed interoperability network supports financial applications such as a fiat gateway and an advanced non-custodial cryptocurrency wallet designed to empower millions of people around the world.
The coordination between Ferrum and Fusion will enable a faster, more reliable interoperability network by leveraging Fusion’s Distributed Control Rights Management System (DCRM). DCRM is a patented technology module that enables users to lock-in and lock-out multiple assets across blockchains without surrendering private keys. In addition, through Fusion’s universal short account number (USAN), multi-token digital asset management is a simple and secure process.
"Fusion and Ferrum share a similar vision – to use blockchain technology to connect financial systems for the benefit of end users. We are excited to be working with Fusion to play our role in that bigger picture," said Naiem Yeganeh, PhD, Co-Founder and CEO of Ferrum Network.
“Advancing the Internet of Value takes coordination and determination from a variety of partners,” said Dejun Qian, Founder and CEO of Fusion. “By partnering with an innovative and forward-looking organization like Ferrum, we believe that we can realize that vision of a decentralized, interoperable world even faster.”
About Fusion Foundation
Fusion Foundation is a non-profit open source developer building the next generation infrastructure for decentralized global finance. By providing innovative companies and developers with the open source technology they need to build peer-to-peer time and value-based applications, the world will enjoy financial transactions that are more accessible, efficient and transparent than previously possible. For more information, visit www.fusion.org.
About Ferrum Network
Ferrum Network is a blockchain-based FinTech company bringing world-class financial products to emerging markets. Our high-speed interoperability network supports financial applications such as fiat gateway and non-custodial wallet designed to empower millions of people around the world by giving them control of their own assets. For more information, visit https://ferrum.network.