The integration of CeFi and DeFi through Binance Bridge 2.0

DeFi is driving the development of cutting-edge Web3 use cases such as nonfungible tokens (NFTs), gaming and the metaverse. With the Binance Bridge 2.0, DeFi can be brought to a broader audience worldwide while maintaining the same smooth user experience as CeFi. Most of the “DeFi” ecosystem relies on centralized services because of convenience, which enables us to understand where the traditional world of centralized banking and the new world of decentralized money might intersect to everyone’s benefit. Binance, with its first bridge, made it possible to bridge assets listed…

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Binance launches Binance Bridge 2.0 to integrate CeFi and DeFi

On March 29, centralized cryptocurrency exchange Binance announced the rollout of Binance Bridge 2.0. The feature enables users to bridge assets from any blockchain, including from tokens not listed on the Binance app, to the BNB Chain. Bridged tokens listed on Binance will be stored in the Funding or Spot Wallet, while unlisted bridged tokens will be transferred to the Funding Wallet only. Users can bridge-in or bridge-out tokens between their native blockchains and BNB Chain via regular deposit and withdrawal functions. In the future, Binance also plans to create…

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Can DeFi and CeFi coexist? Three takeaways from experts panel

As price action bewilders market makers and traders, experts in the crypto industry reached an agreement on several important points last week. Notably, centralized finance (CeFi) and decentralized finance (DeFi), can coexist, and a “blend” of financial products and services will be available to users in the future.  On Jan. 21, Cointelegraph moderated the panel discussion, “Can CeFi and DeFi Coexist?” for the Global Blockchain Business Council. In the video, panelists hash out questions related to adoption, banking the unbanked, and whether innovation means disruption of traditional financial services. Salient…

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Celsius becomes first CeFi or DeFi platform to cross $20B AUM

Crypto lending platform Celsius Network has reported it holds more than $20 billion in digital assets, making the company one of the largest in decentralized finance. In a Tuesday announcement, Celsius said its holdings had grown more than 1,900% in less than a year, from $1 billion in June 2020 to $20.3 billion as of Aug. 13. The company conducted an internal audit using technology provided by analytics firm Chainalysis, also determining it was adding roughly $1 billion in new digital assets monthly. According to Celsius CEO Alex Mashinsky, the…

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CeFi and DeFi will finally meet in 2021 — Let’s hope they hit it off

The decentralized finance industry undoubtedly has vast potential — the value locked in it has exploded, surpassing $14 billion this month. Though there is speculation over whether decentralized finance is yet another bubble, I believe it is here to stay. How it stays, however, is another matter that depends on how DeFi handles ongoing hacks and other vulnerabilities, how centralized finance incorporates DeFi’s leading features and vice versa. DeFi encompasses everything that the crypto space fundamentally stands for: democracy, power to the unbanked and underbanked, transnationalism, a truly global and…

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Compound Finance founder says that CeFi will embrace DeFi

Compound Finance founder, Robert Leshner, says that CeFi will inevitably embrace DeFi and there are signs it is already occurring. Speaking at the REDeFiNE TOMORROW — Global DeFi and Blockchain Virtual Summit in Bangkok, Thailand today, Leshner aired his views on CeFi/DeFi integration, the issues with Ethereum, and the advantages of decentralized governance.  Host Mukaya Panich, chief venture and investment officer of event sponsors SCB 10X (linked to Siam Commercial Bank), asked Leshner about DeFi’s integration with traditional and centralized finance. He commented that lines will blur and centralized finance…

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The battle between DeFi, CeFi and the old guard

We aren’t taught real economics in school. We learn, instead, voodoo economics. For example, rarely — if ever — do professors present us with the valuable insights highlighted by the Austrian school of economics.  Individuals, therefore, need to break their conditioning to understand how the financial world works. The truth of how the financial system was built, how it works, who controls it, and so on is a whole new world to them. If you really dig into the truth and start to see how it all works, you might…

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Bitrue, OKEx to offer both DeFi and CeFi options

Two exchanges will offer both decentralized and centralized financial options. Both Bitrue and OKEx separately announced plans to provide hybrid services that cater both to the DeFi market and more mainstream centralized finance products. OKEx CEO Jay Hao tweeted on August 30 that the exchange launched its hybrid lending aggregator. The DeFi and CeFi aggregator integrates Compound (COMP). Hao said OKEx is “here to redefine crypto lending experience.” The OKEx DeFi Lending Marketplace gathers major DeFi lending products and allows users to check and compare all DeFi and CeFi lending…

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“CeFi and DeFi will eventually merge”

MakerDAO founder, Rune Christensen, explained the measures taken by the Maker Foundation to prevent future failures in Maker’s protocol and predicted the future merger of DeFi and centralized finance.  How to prevent future meltdowns In order to prevent a repeat of the Black Thursday meltdown, Maker’s governance addressed the bug that allowed a number of users to win liquidation auctions posting 0 DAI in return.  Christensen said that the auction’s bid duration has been increased to six hours, which means that auction participants will have more time to make their…

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