Kava Labs Acquires Crank Studio To Bring the $40B DeFi Industry to a Broader Audience

San Francisco, CA, March 19, 2021 (GLOBE NEWSWIRE) — Cryptocurrencies have often been shunned or ridiculed by mainstream media yet they continue to benefit from a broader adoption as institutions like Robinhood and PayPal have taken the first step allowing users to buy major assets like Bitcoin and Ethereum. Now that users can hold Bitcoin they’re requesting open finance features so they can also earn interest on their digital assets. 

Today, the leading crypto DeFi platform, Kava, has announced the acquisition of the professional service provider Crank Studio to catalyze the adoption of security-first DeFi while improving the experience for all users. By improving the UX/UI the customer is making more informed decisions about their investments about their money.

It has taken Bitcoin over ten years to get to the mass adoption of today and has faced many roadblocks along the way. As society now enters the “early majority” phase of cryptocurrency adoption, it is up to the industry to keep pushing the boundaries. Lowering the barriers to everything else the crypto ecosystem has to offer is the next logical step and that’s why Kava Labs has made the move to acquire Crank Studio.

The largest emerging market of our time is being called open finance and decentralized finance or DeFi for short. Despite noting substantial success in attracting capital from experienced cryptocurrency users, this approach has yielded initial success, culminating in over $40 billion worth of crypto-assets distributed among the many different protocols and services. However, this amount represents a fraction of the liquidity that can flow into DeFi projects once all users can access a professional and convenient user interface and user experience. 

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In its current form, the DeFi space is not novice-friendly. Without technical expertise, gaining an understanding of or interfacing with DeFi applications is a nigh futile task.
That narrative needs to change quickly, and mature firms like Crank Studio may prove to be a significant catalyst for Kava Labs.

Canadian UX and UI design firm Crank Studio are well-versed in tailoring experiences to high-end global clients. Their frictionless user interface experiences will help catalyze the onboarding of new cryptocurrency users to DeFi. Following the acquisition of Crank Studio by Kava Labs, both teams will accelerate the growth and engagement of Kava’s DeFi platform, products, and services.

Crank Studio Founder Peter Mancini adds:

“Crank Studio believes in Kava’s mission to unlock financial opportunities for everyone. Through our UI/UX and design system expertise, we aim to unlock a new level of user engagement into Kava DeFi products and services. We are excited to fully dedicate our talent and resources to Kava’s mission.” 

Unlike other DeFi platforms, Kava remains ahead of the typical flow of the adoption curve because they are the most trusted solution by financial institutions. Crank Studio’s acquisition will strengthen Kava’s focus on direct business-facing integrations, such as Binance, Huobi, and BitMAX – and consumer-oriented applications. Providing a quality user experience will catalyze the unlocking and the onboarding of more users to Kava’s products and services while also increasing the security of the platform.

The early majority entering the DeFi sector today will pale in comparison to the next wave of digital asset adoption. Kava’s forward-thinking approach and focus on providing a better UX and UI for both consumers and institutional players will offer a glimpse of how the future DeFi landscape may look like in the future. 

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About Kava

Kava is a multi-asset DeFi platform that offers stablecoins, loans, and other financial services for users of major cryptocurrency assets including BTC, XRP, BNB and ATOM to name a few. The Kava platform has two types of tokens, the KAVA token and the USDX stablecoin where the KAVA token is the native token of the Kava blockchain integral in the security, governance, and mechanical functions of the platform. Users can collateralize their crypto assets in exchange for Kava’s stablecoin, USDX. Kava’s stablecoin provides a high interest yield earning users more than they would with traditional cash or savings account at a bank, but unlike traditional savings accounts. To learn more visit Kava.io.

About Crank Studio

Founded in 2010, Crank Studio is an independent UI/UX design communication company that combines technology and creativity to strategically position brands in the market and drive business results. With a global client base, Crank Studio has delivered design results across various industries including; cryptocurrency, professional services, manufacturing, real estate management, entertainment, athletics, and more.

Media Contact Information

Sarah Austin
Kava.io
[email protected]
San Francisco