Three former executives who held high-profile legal, policy, and product roles at crypto exchange OKX have unveiled an easy-to-access decentralized financial connectivity platform called Shredpay, which is aimed at both retail customers and institutions in the US.
Shredpay’s founding team consists of CEO Mauricio Beugelmans, former legal director of OKX; President Melissa Muehlfeld, former global general counsel of OKX; and CTO Peter Chang, former vice president of product at OKX.
Decentralized finance (DeFi) remains a complicated proposition for the uninitiated. Current marketplace offerings are segmented and do not include transparent risk information, making widespread adoption difficult, according to a press release issued by Shredpay.
Beugelmans and company’s solution is to provide a simple, easily accessible on-chain financial platform with clear risk ratings for DeFi protocols to 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. “Users often cannot easily distinguish between battle-tested protocols and exit scams.”
Shredpay CTO Chang said cryptocurrency natives may already know how to assess the protocol’s risk; they read audits, they track TVL, they monitor governance. “We’re packaging that institutional-level due diligence into a format that works for mainstream users. It expands the addressable market of each protocol we rate,” he said.
