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TrustToken acquires EthWorks to scale leading lending protocol TrueFi


invezz.com 20 September 2021 16:16, UTC
Reading time: ~2 m

A leading global unsecured lending platform that recently raised over $12.5 million teams up with a world recognized team of development experts to take the platform’s mission to the next level. TrustToken is the company behind TrueFi and maker of TrueUSD (TUSD/USD) among other popular stablecoins. They acquired the leading Web3 development company, which boasts an impressive portfolio of successful blockchain projects.

TrustToken technical talent quadruples

After the acquisition, TrustToken’s tech talent increases fourfold and its team size doubles. Senior design and technical leadership is coming in to take TrustToken’s mission to the next level. EthWorks has contributed to the development of many popular DeFi protocols and Layer 1 blockchains. Among the previous partners of EthWorks are Bitcoin.org (BTC/USD), the Ethereum Foundation (ETH/USD), and Polkadot (DOT/USD).

TrustToken CEO Rafael Cosman commented:

“As TrustToken matures and expands, we need to make sure our products and services are among the most robust, safe, and accessible in the blockchain industry. The acquisition of EthWorks and its world-class team of engineers and designers is crucial for the future of TrueFi, helping us scale the speed, security, and experience of the protocol, while creating the greatest possible opportunities for our lenders, borrowers, and token holders.”

TrustToken to accelerate development significantly

With the EthWorks team on board, TrustToken’s team numbers over 100 and significantly expands the company’s design, engineering, and cybersecurity capabilities. The acquisition and talent that comes with it will accelerate TrustToken’s development schedule, protocol security, and user experience markedly across different products and services. TrustToken will also support useDApp among other EthWorks open source projects, which Ethereum developers around the world use.

EthWorks’ reputable leadership in engineering and design will join TrustToken to guide their branding and development efforts. CEO and founder of EthWorks Marek Kirejczyk becomes Chief Technical Officer (CTO) of TrustToken. He says:

“We’re very excited to now be part of TrustToken’s story. TrueFi is the fastest growing uncollateralized lending protocol in DeFi. Our joining forces creates an unique opportunity to accelerate growth and create an outstanding impact in the DeFi space – and soon, in the world of institutional finance.”

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