Bitrue to Introduce CeFi/DeFi Mixture and Native Token for Loans to Upgrade Its Existing Loan Service

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Tue, 08/25/2020 - 14:10
Yuri Molchan
Financial management platform Bitrue intends to introduce a hybrid of CeFi and DeFi, along with native token, BFT, to add to its existing loan service
Bitrue to Introduce CeFi/DeFi Mixture and Native Token for Loans to Upgrade Its Existing Loan Service
Cover image via www.bitrue.com
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In its recent blog post, financial management platform Bitrue has written that, in its coming upgrade, it intends to combine CeFi and DeFi features on its loan service.

The post also announced the upcoming launch of Bitrue's native token, BFT, which will be used in the upgraded Bitrue Financial Services.

DeFi
Image via Twitter

Bitrue Financial Services on the horizon

Bitrue has reminded the community of its Whitepaper 2.0 and the hints it contained about Bitrue planning to introduce DeFi. Since then, Bitrue has labored to create an asset management service focused on crypto, which would be a mix of DeFiwhich has become a new trend thanks to projects like Chainlinkand CeFi products.

DeFi and CeFi stand for decentralized finance and centralized finance; both enable users to capitalize on cryptocurrencies.

The service that will allow lenders to put their crypto in the liquidity pool for borrowers will likely start work in Q1 of next year. The pool will use the newly launched BTF (Bitrue Finance Token), which will be launched later this week and added to the listing in the middle of September.

Apart from that, Bitrue will also upgrade its existing loan mechanism. The first improvement will be a higher level of transparency; wallets holding collateralized coins will begin to be viewable by the public.

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Mixture of CeFi and DeFi products

As is explained in the blog post, Bitrue intends to offer its users both CeFi and DeFi solutions for managing their crypto. This will appeal to various types of customers, depending on how they prefer to earn yields on their coins.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.