OKEx and Bitrue to Offer Decentralized and Centralized Finance Services, but Celsius Network May Already have Similar Products – Crowdfund Insider

blankDigital currency exchanges Bitrue and OKEx claim that they’ll be offering both decentralized finance (DeFi) and centralized (CeFi) services.

Jay Hao, CEO at OKEx, says that the leading crypto exchange, which regularly handles billions of dollars in daily trading volume (but has also been accused of market manipulation in multiple reports), will introduce a hybrid lending aggregator. The new service will reportedly integrate Compound (COMP), a popular DeFi token that has added hundreds of millions of dollars to its balance sheet during 2020.

Hao claims that OKEx will be “redefining” the cryptocurrency lending experience. The trading platform’s DeFi lending marketplace will bring together leading DeFi lending products and will make it easier for traders to verify and compare the different DeFi and CeFi lending rates.

OKEx said that it will also launch a “one-stop” DeFi trading hub that will aim to eliminate the need to move assets between different wallets, which can slow down the trading process.

Crypto exchange Bitrue says it will be introducing its hybrid (both DeFi and CeFi) solution during the first quarter of next year. Bittrue’s DeFi platform will also feature a token, called the Bitrue Finance Token (BFT).

The exchange noted that it will allow lenders to add different crypto-assets to a liquidity pool, so that they can begin to earn interest on loans. BFT should be listed
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