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Ex-legal officials from cryptocurrency platform OKX launch DeFi integration and risk assessment service.
Shredpay aims to attract U.S. retail and institutional users seeking user-friendly solutions and a thorough risk rating.
The Shredpay founding team (from right to left): Mauricio Beugelmans (CEO), Melissa Muehlfeld (president), Peter Chang (CTO) (Shredpay)
Key Information:
- The Shredpay founding team consists of former executives from OKX: Mauricio Beugelmans, Melissa Muehlfeld, and Peter Chang.
- The ShredPay DeFi Ratings Index assesses protocols based on smart contract security, liquidity depth, and operational transparency.
A trio of former executives with notable legal, policy, and product experience at crypto exchange OKX has introduced a user-friendly decentralized finance connectivity platform known as Shredpay, targeting both retail and institutional clients in the U.S.
The Shredpay founding team includes CEO Mauricio Beugelmans, previously the chief legal officer at OKX; president Melissa Muehlfeld, who served as the global general counsel at OKX; and CTO Peter Chang, the former VP of product at OKX.
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According to a press release from Shredpay, decentralized finance (DeFi) continues to present challenges for those unfamiliar with it. Existing market solutions are fragmented and lack transparent risk information, hindering widespread acceptance.
The solution proposed by Beugelmans and his team is to create a straightforward, easily navigable onchain finance platform that provides clear risk ratings for DeFi protocols, assisting new users, as stated by the company.
The ShredPay DeFi Ratings Index evaluates protocols on criteria such as smart contract security, liquidity depth, operational transparency, compliance, governance structure, and historical performance, offering users standardized risk assessments that can be compared to conventional credit ratings.
"DeFi may appear unclear, but it is not a matter of technology – it is about information imbalance," Beugelmans noted. "Users frequently struggle to differentiate between reliable protocols and exit scams.”
Shredpay’s CTO Chang pointed out that individuals well-versed in crypto may already know how to evaluate protocol risk; they review audits, monitor total value locked (TVL), and keep track of governance. “We are consolidating that institutional-grade due diligence into a format that is suitable for mainstream users. This broadens the potential market for every protocol we evaluate,” he remarked.
