Berlin, Germany, 27th February, 2023, ChainwireForex-focused layer 1 blockchain Pendulum has announced the successful mainnet launch of its Polkadot parachain. As a result, the Pendulum chain is now connected to the Polkadot ecosystem, allowing businesses & fintechs to enter the world of decentralized finance. The move ushers in a new era for Forex, bringing a multi-trillion dollar market to DeFi.The deployment of Pendulum’s parachain on Polkadot mainnet marks the first phase of a three-part launch. Subsequent phases will comprise the Token Transferability Event, the Spacewalk Stellar-Polkadot Bridge launch, as well as the launch of forex-AMM 0xAmber, with the entire launch process expected to be completed by March.Alex Wilke, Co-Founder of Pendulum, said:“The launch of Pendulum’s mainnet represents a significant step towards our goal of revolutionizing the financial industry. By bridging the gap between traditional finance and DeFi, we are providing a platform that fosters financial inclusion and equality. We are excited to see how Pendulum will empower businesses and individuals to take control of their finances and achieve greater financial freedom.”Block production has been initiated by the Pendulum network and the first transaction has now been successfully executed on Pendulum’s chain

We recently caught up with Dr. Torsten Stüber, Co-Founder and CTO at Berlin-based Pendulum, an initiative focused on traditional finance infrastructure blockchain solutions, which is “the missing link between fiat and DeFi.”Pendulum is an open-source blockchain built on the “proven” Parity Substrate framework, establishing the missing link between fiat channels and the fast-evolving decentralized finance ecosystems through a sophisticated smart contract network.Dr. Torsten Stüber has shared insights on several crypto industry trends and innovations such as stablecoins, the importance of compliance, and tokenization.Our discussion with Dr. Torsten Stuber is shared below.Crowdfund Insider: Please tell us about the process of tokenization of fiat currencies on Pendulum and how it is compliant with local jurisdictions?Torsten Stuber: We work with local financial institutions or fintech companies that issue fiat tokens on Pendulum and that hold customer deposits 1:1 in reserve in insured accounts. These institutions are required to fully comply with their local jurisdiction and global standards, i.e, they are required to maintain a comprehensive AML policy and need to be able to perform KYC checks on new customers.Crowdfund Insider: Please explain how integrations with other blockchain ecosystems, such as Stellar, work on Pendulum?Torsten Stuber: We integrate other ecosystems via blockchain bridges. These bridges allow to seamlessly move tokens between different chains

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