Three former OKX executives have launched Shredpay, a decentralized finance (DeFi) connectivity platform designed for both retail and institutional users in the U.S.
The platform aims to simplify DeFi by providing clear risk ratings for various protocols. Shredpay's founding team includes former OKX Chief Legal Officer Mauricio Beugelmans as CEO, former Global General Counsel Melissa Muehlfeld as president, and ex-VP of Product Peter Chang as CTO.
The ShredPay DeFi Ratings Index evaluates protocols based on security, liquidity, transparency, compliance, governance, and historical performance. This aims to address the information asymmetry that hinders mainstream DeFi adoption, according to Beugelmans.
"We're packaging that institutional-grade due diligence into a format that works for mainstream users," stated CTO Chang, expanding the market reach for rated protocols.