Cryptocurrency exchange Huobi in a partnership with layered blockchain network Nervos will develop a new public blockchain focused on decentralized financial (DeFi) services, states an official announcement.
The so-called Huobi Finance Chain will reportedly be a regulator-friendly, high-performance financial blockchain that allows enterprises, financial institutions, and exchanges to deploy their own blockchains, tokenized assets, and DeFi services.
The project has the potential to host lending & debit services, stablecoins, security token offerings (STOs) and other means of asset issuance, decentralized exchanges (DEXs), real-world payment services, and more.
Li, CEO and Founder of Huobi Group, claims the mission of Huobi Group is "to make finance more efficient and make wealth accessible to all."
"This project is not only in line with Huobi's overall strategy, but it also fulfils our core mission. From a strategic point of view, decentralized financial services are still in an early stage of development. The market demand is clear, however, and we believe this is a very definite business opportunity," he added.
Earlier Huobi announced it will be moving aggressively into the Turkish market over the course of the next 12 months as part of its ongoing plans for global expansion.
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