Three former executives who held high-level legal, policy and product roles at crypto exchange OKX have unveiled an easy-access decentralized financial connectivity platform called Shredpay, aimed at both retail and institutional customers in the United States.
The founding team of Shredpay consists of CEO Mauricio Beugelmans, former General Counsel of OKX; President Melissa Muehlfeld, former global general counsel of OKX; and CTO Peter Chang, former VP of Product at OKX.
Decentralized finance (DeFi) remains a tricky proposition for the uninitiated. Current market offerings are segmented and do not include transparent risk information, making it difficult for mainstream adoption, according to a press release issued by Shredpay.
Beugelmans and co’s solution is to provide a simple and easily accessible on-chain financial platform with clear risk assessments for DeFi protocols that help new users, the company said.
The so-called ShredPay DeFi Ratings Index evaluates protocols on smart contract security, liquidity depth, operational transparency, compliance, governance structure and historical performance, providing users with a standardized risk assessment comparable to traditional credit ratings.
“DeFi seems opaque, but it’s not about technology, it’s about information asymmetry,” Beugelmans said. “Often, users cannot easily distinguish between proven protocols and exit scams.”
Shredpay CTO Chang said crypto natives may already know how to assess protocol risks; they read audits, follow TVL, monitor governance. “We’re packaging this institutional-grade due diligence into a format that works for mainstream users. This expands the addressable market for each protocol we evaluate,” he said.
