Huobi Develops New Public Blockchain for Decentralized Financial Services

Crypto News

Highly optimistic in its long-term vision of decentralized finance, Huobi, the global provider of digital asset finance, has found a new partner , Nervos, the Chinese network development startup Blockchain, to build a public Blockchain specialized in decentralized financial services, the DeFi.

Adapted to the regulations in force

With Huobi Finance Chain, companies, financial institutions and trading platforms will have the opportunity to create their own blockchains, tokenize assets and use DeFi (Decentralized Financial) services.

The platform would also have the potential to integrate lending services, tokens backing into fiduciary currencies, Security Token Offering (STO) and other asset issuance vehicles, decentralized trading platforms (DEX ) as well as real payment services.

In addition, the company made the effort to register the project in accordance with regulatory requirements by incorporating tools such as a decentralized identifier (DID) and identity protocols , including KYC (Know Your Customer) ) and the fight against money laundering (Anti-Money Laundering).

Indeed, the opening of the source code for this project is scheduled for the third quarter of this year. The testnet would be deployed in the first quarter of next year, while the launch of the main network would be effective for the second quarter.

In coherence with the mission of the company

The ambition of the company is to make finance effective and that it is not reserved for a minority. Huobi places his hopes in this project to achieve these goals.

Livio Weng, General Manager of Huobi Global and Vice President of Huobi Group, gave his opinion on this partnership:

“We are convinced that this project has tremendous potential for established and emerging financial products and services, just as cryptocurrency has done for the world of money.”

For his part, Nervos co-founder Kevin Wang embraces this vision by considering the financial sector as a turning point in its evolution, and the two companies are well placed to innovate these services from a more decentralized perspective.

What do you think of this joint project of Huobi and Nervos? Tell us your opinion in the comment section below.

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