Paris, France, July 21, 2022, 9 AM CET— Kaleido, an enterprise-grade Web3 infrastructure platform, and Polygon, an Ethereum scaling platform onboarding millions to Web3 today announce a strategic partnership, enabling enterprises to build and launch dedicated blockchain networks tailored specifically to their needs. Kaleido will leverage Polygon Edge, a dedicated framework allowing organizations to deploy customizable, application-specific, and highly performant blockchain networks and help meet surging demand from enterprises.
Kaleido’s platform provides built-in enterprise-grade infrastructure — with high uptime guarantees, 24x7 support, industry security compliance standards, high availability and more. It has underpinned the industry’s most successful and hardened enterprise blockchain initiatives over the last four years. Examples include Riskstream Collaborative (the insurance industry’s largest blockchain consortium worldwide), Synaptic Health Alliance (Aetna, Humana, United Healthcare, Quest Diagnostic, MultiPlan), Covantis (the leading global agribusinesses), along with the World Bank, IMF, HSBC, T-Mobile, Sony, Pepsi, and Mitsui. Kaleido’s customers leverage its platform of over 500 APIs and services to reach production faster and more cost-effectively.
One of the first projects to harness Polygon Edge via Kaleido’s Blockchain Business Cloud is Core+, currently in stealth mode, which looks to democratize trade finance accessibility. The start-up, which is planning to launch in the months ahead, will use the blockchain to provide small and medium enterprises (SME’s) with access to transactional financing and related tools. These financing solutions were previously inaccessible to SMEs, particularly women-owned businesses and new generations of entrepreneurs in the developing world.
The project is co-founded by James Emmett, former CEO of HSBC Bank Plc & HSBC Europe, with decades of experience in the financial services space. He had previously run HSBC’s Global Trade Finance business, along with digital assets expertise as former CEO and Managing Director of Diem LLC (Libra) in Switzerland.
“Once our platform is launched, SMEs that are typically excluded from global finance, notably those in the developing world, will be able to access the financing they need for the first time to make and ship goods on competitive terms, helping to close the $1.7 trillion trade finance gap and creating much-needed local economic development” says Emmett. “The platform delivers this revolution to the multi-trillion dollar trade finance industry by building on the DNA of Web3–including the multi-party automation smart contracts bring and the open financial constructs of Defi. This game-changing platform leverages both access to public ecosystems and the regulated, enterprise characteristics of a dedicated chain, and Edge on Kaleido is a leading solution for this.”
Via Kaleido’s Blockchain Business Cloud, enterprises can run Web3 platforms such as institutional-grade digital asset platforms, gas-free NFT platforms, side chain-as-a-service platforms, and consortium-as-a-service platforms. In addition, a roadmap of blockchain innovations, including interoperability bridges and zero knowledge technologies, will be added to the Polygon Edge framework and made available on Kaleido’s fully managed blockchain business cloud.
Enterprises have long been investing in blockchain-based applications across a myriad of high-value use cases in all major industries such as financial services, supply chain, retail and healthcare. However, companies have long preferred to create private blockchains for reasons including privacy, scalability, and cost. Increasingly, they are also drawn to the openness and ecosystem that public chains offer.
“Enterprises are eager to tap into vibrant, open ecosystems and Polygon, at the heart of Ethereum, is a natural community for them to target. However, companies have long been held back by various privacy concerns and the gas transaction fees required in public chains. Kaleido is proud to partner on new, innovative technologies like Polygon Edge that give enterprises the right mix of scalability, security, cost, and openness. With the Polygon Edge framework and its constellation of upcoming enhancements, we will bring enterprises into the future of Web3,” says Sophia Lopez, Co-Founder and President at Kaleido.
Polygon is a carbon-neutral Ethereum-based scaling platform that reduces the high transaction fees and latency associated with the Ethereum mainnet. The network has become the go-to blockchain solution for global powerhouses, such as Stripe and Meta, to accelerate the next generation of enterprise solutions.
As the Polygon community has grown, the Polygon team has added a suite of scaling solutions, including Polygon Edge. Polygon Edge is a framework for creating a dedicated blockchain infrastructure where multiple dApps can be deployed. Edge is designed to connect to the Polygon mainnet and work together seamlessly with its other scaling technologies while also offering bridges to other networks. Kaleido will eventually harness Polygon Supernets, powered by Polygon Edge. Polygon Supernets are the fast-track for blockchain adoption in new private and public networks for dApps and enterprises alike. Polygon Supernets uses powerful Polygon Edge as the configurable infrastructure solution in a highly secure and decentralized environment.
Antoni Martin, Enterprise Lead of Polygon and Co-Founder of Polygon Hermez, says, “The Polygon Edge framework was designed with enterprises in mind, to help them simplify and speed up the process of building and launching their own customizable and secure Ethereum-compatible Blockchain networks. Kaleido provides the enterprise ‘easy button’ and has the deep expertise gained from running thousands of enterprise chains over the last four years.”
Steve Cerveny, Co-Founder and CEO of Kaleido, adds, “The partnership between Kaleido and Polygon is a landmark step for the Web3 space. It is concrete evidence that the scalability, cost, and privacy solutions of public chain ecosystems now meet the requirements of enterprises. This is a very big deal for our space–and I believe it will usher in the next era of Web3 with enterprises coming online into an architecture that is rapidly evolving towards a mass adoption ‘endgame’ state.
Polygon Edge will be available on Kaleido starting July 21st. For more information on how to power an enterprise app with Kaleido and Polygon Edge, visit www.kaleido.io/polygon-edge.
About Kaleido: Kaleido is dedicated to making blockchain radically simple for organizations to adopt so that our societies will fully benefit from decentralized models and technologies. Kaleido’s Blockchain Business Cloud is a full-stack SaaS platform built for creating, operating and scaling enterprise blockchain solutions. For more information, visit www.kaleido.io.
About Polygon: Polygon is the leading blockchain development platform, offering scalable, affordable, secure, and sustainable blockchains for Web3. Its growing suite of products offers developers easy access to major scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone and enterprise chains, and data availability. Polygon is going carbon-negative in 2022. To learn more about Polygon, visit polygon.technology.
About Core+: The Core+ project aims to democratize and simplify access to financing for manufacturers and suppliers globally, addressing the stubborn trade finance gap that results in small-caps being short of $1.7 trillion of trade finance and creating a new, highly-investible, trade asset class. It has a highly experienced team of co-founders including: James Emmett, Former CEO & Managing Director of Diem (Libra) Networks and former CEO of HSBC Bank Plc & HSBC Europe; Richard Hawkins, Former CIO HSBC Europe and former Global Head of Commercial & Transaction Banking IT for HSBC; William Hare, a highly experienced lawyer with over 25 years’ experience in complex cross-border commercial legal affairs; and Simon Larsen, Former COO of HSBC Private Bank (Suisse) SA and former Head of Global Platform for HSBC Global Private Banking.
Sophia Lopez, Co-Founder and President
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