Kinto: Is a KYC L2 the way that institutional capital gets brought on chain?
In this episode of the DeFi Download, Piers Ridyard speaks with Ramon Recuero, Co-Founder and CEO of Mamori Labs, which is developing Kinto. Tune in to learn how Kinto bridges TradFi to DeFi and paves the way for institutional adoption by introducing the first Layer 2 solution with chain-level KYC and addressing concerns about scams, hacks, and traditional financial institutions' perception of cryptocurrency as the "Wild West. SummaryJoin Piers Ridyard and Ramon Recuero as they explore the inner workings of Kinto, a groundbreaking platform that seeks to bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi). Kinto's innovative approach addresses the longstanding issue of security in the crypto space by introducing the first Layer 2 (L2) solution with KYC at the chain level, revolutionizing user protection and trust within the ecosystem. Kinto's native account abstraction enhances security by requiring users to utilize account-abstracted wallets, preventing common scams seen on other chains.Ramon recounts his journey from the gaming industry to crypto and from the traditional finance sector to the realm of DeFi, fuelled by the realization of the disruptive potential of crypto. From his involvement in ventures like OpenSea, to founding Babylon Finance and recently Mamori Labs and Kinto, Ramon's experiences underscore the critical need for trust, security, and regulatory compliance in the crypto space.Discover why Kinto is gaining traction among major financial institutions like Franklin Templeton and BlackRock, indicating a significant shift towards institutional adoption. With a focus on crypto-native RWA protocols and diverse capital inflows from traditional funds like Skybridge and networks like Solana, Kinto is poised to revolutionize the DeFi landscape, catering to both seasoned investors and newcomers with enhanced asset accessibility and streamlined user experiences. Key takeawaysSystemic Insurance Integration: Learn how Kinto integrates insurance directly into its system to address vulnerabilities highlighted by past hacks.Revolutionary KYC Approach: Explore Kinto's innovative permissionless KYC system.Chain-Level KYC Enhances Composability: Understand how implementing KYC at the chain level simplifies composability.Increased Institutional Confidence: Discover why institutions find it more secure to deploy capital within a chain-level-KYC Layer 2 like Kinto.Chapters00:00 — Introduction to Ramon Recuero01:06 — Ramon's journey to creating Kinto07:17 — From game developer to crypto enthusiast09:31 — Why Ramon built Babylon Finance12:47 — Kinto's systemic insurance17:48 — Revolutionary Ethereum L2 with on-chain KYC20:42 — Why KYC at the chain level22:28 — Kinto's strategy for institutional adoption23:51 — Addressing regulatory issues & RWA Liquidity 24:57 — Kinto's advantages over existing providers26:16 — Kinto's capital inflow source27:47 — Natively-built account abstraction28:58 — Institutional adoption possibilities30:22 — Kinto's KYC: Threat to digital commons?34:19 — Dealing with KYC & AML complexities38:20 — Counterparty guarantees in tokenized assets40:12 — Kinto's NFT and proof interoperability41:28 — Kinto's unique edge42:57 — How to get involved with KintoFurther resourcesWebsite: kinto.xyz Twitter: @KintoXYZ Ramon's Twitter: @ramonrecuero