Open DeFi, Blockpower Join Hands to Converge DeFi & CeFi

eToro

Crypto asset management company, Blockpower and DeFi accelerator platform have joined hands to bridge convergence between decentralized and centralized finance. In a tweet on Monday, Open DeFi stated that Blockpower would help it to formulate strategies to integrate centralized and decentralized financial ecosystems across the globe.

The emergence of DeFi has opened the doors for tremendous opportunities. However, integration with centralized ecosystems is still a task not fulfilled completely. Lack of integration has prevented the DeFi segment from realizing its true potential, despite being one of the fastest-growing segments in the crypto-blockchain industry.

In the official blog, Open DeFi added said Blockpower would provide it with knowledge and expertise on trading and staking, which will push DeFi liquidity, staking, and further integration between CeFi and DeFi. Open DeFi is a global initiative founded in September 2020 by a group of crypto-blockchain companies, including Sequoia Capital, DeBank, Conflux Network, Antelope Holdings, Blockpower Capital, MCDEX, dForce, etc.

Commenting on the integration with Blockpower, Conflux Network MD Eden Dhaliwal said that Blockpower has partnered with Open DeFi as a core member and will contribute to building strategies to connect the decentralized financial ecosystems across the globe. Chao, Blockpower COO, said that DeFi is a significant trend for crypto. And as a leading CeFi platform and PoS validator, they are looking forward to participating in linking the DeFi-CeFi convergence.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button