Qori Capital, a financial management company that ran the largest fund in Peru, recently announced it has applied to become an affiliate member of DeFi Money Market (DMM), the decentralized protocol and ecosystem that brings earned interest back into the global monetary system.
Qori reported that if the DMM DAO votes to pass the proposal, the company will run the first test case of introducing machinery, real estate, and vehicles as an asset class to the DMM ecosystem (DMME). Qori Capital would also work with DMM to open additional Latin American markets to the DMME.
“For assets to be considered for introduction to the DMME, they must be backed by real-world assets that generate income, be made transparently viewable on-chain, and all must be overcollateralized in both value and income generation.”
Speaking about the organization, Mario Pazos, Director at Qori Capital, stated:
“We see what DMM is doing to democratize finance as having great potential to transform markets for everyday people, particularly in Latin America, and we are excited to continue working with the DMM team to expand awareness and access to the DMME throughout the region.”
Gregory Keough, Member of the DMM Foundation, the organization behind the DeFi Money Market (DMM), added:
“The responsibility of proposing new real-world assets that mTokens are based on is shared by DAO Affiliate and Principal members. We are very excited to announce Qori Capital’s application to become an Affiliate member of DMME and look forward to working with them to expand access to DMME throughout Latin America.”