Huobi DeFi Labs Introduces Global Alliance with Cross-Border Collaboration
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Aug. 17, 2020
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The newly-formed decentralized finance (DeFi) division of a cryptocurrency exchange Huobi, Huobi DeFi Labs, has launched the Global DeFi Alliance, an international consortium of centralized and DeFi service providers and platforms.

According to an official press release that was shared with iHodl, the exchange has formed the alliance in cooperation with MakerDAO, Compound, Nest Protocol, and dYdX.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Huobi says the decision to launch the alliance has been triggered by a spike in DeFi interest from investors and financial institutions.

Huobi’s CIO Sharlyn Wu believes that DeFi is "the first attempt in human history to build a modern financial system without credit risk, and it is unleashing the power of free economy at global scale."

"However, there are still many gaps that need to be filled, from theoretical research and technological development to ecosystem development," Wu added.

The main goal of the alliance is reportedly to bridge centralized and DeFi communities, as well as unite the fragmented DeFi communities across the Asia-Pacific and Western regions.

OKEx Introduces Price Oracle for DeFi Startups

Meanwhile, in less than two months the DeFi market managed not only to reach its historic high, but also to set a new record with $6 billion in total locked value.

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