OKEx And Bitrue Set To Offer CeFi And DeFi Options

Two heavyweight crypto exchanges, Bitrue and OKEx, have made it clear that they will start offering both decentralized financial options (DeFi) as well as centralized finance (CeFi).

Both of these exchanges announced their plans separately from each other. They explained that they plan to provide hybrid services to cater to mainstream CeFi finance products, as well as the growing DeFi market.

OKEx Pushing Into New DeFi Products

Jay Hao stands as the CEO of OKEx, and tweeted on the 30th of August, 2020, that OKEx will launch its new hybrid lending aggregator. This aggregator will integrate Compound (COMP) within it, as well. Hao claimed that the OKEx exchange is aiming to completely redefine what it is to experience crypto lending as a whole.

Here we go – #DeFi Lending Marketplace on @OKEx.

It'll be the first hybrid lending aggregator of #DeFi & #CeFi in the industry, with @compoundfinance integration on the way.

We're here to redefine #crypto lending experience: https://t.co/xQiqoHhICs pic.twitter.com/QTfVjGoIws

— OKX Intern (@okx_intern) August 29, 2020

This DeFi Lending Marketplace that OKEx offers, gathers all the major DeFi lending products, allowing users to compare and check all the lending rates for all the CeFi and DeFi products. The exchange will also develop with a One-Stop DeFi Trading Shop, which promises a One-Stop Defi experience without the need to transfer funds between various wallets.

Bitrue Going Both CeFi and DeFi For Maximum Customers

Bitrue announced its own hybrid service through a public statement, as opposed to a tweet. This new DeFi offering will be launched with the backing of a new token, going by the name of Bitrue Finance Token (BFT). In the statement, Bitrue explained that it would start out by allowing lenders to add coins within the liquidity pool, with the lenders themselves receiving an interest, in turn. According to the statement, BFT will start its listing in mid-September.

In its statement, Bitrue highlighted how it would satisfy the needs of an array of customers, doing so by providing for both DeFi and CeFi at the same time. The platform highlighted that an opportunity would be available for you to be comfortable with, regardless of the yield, time horizon, amount invested, or even the yield you want in return. The exchange is pushing hard for how flexible this new service will be

DeFi Only Growing

Alongside this, Bitrue highlighted that it plans on integrating new upgrades to its existing loan service, as well. This includes making the wallets containing collateralized funds viewable to the public, as well.

DeFi still sees an incredible amount of interest, having reached $9 billion in locked-in value recently. OKEx itself has opted to list eight new DeFi tokens, as well, making it evident that the decision was based on how much success DeFi is experiencing.