Bitrue to Introduce CeFi/DeFi Mixture and Native Token for Loans to Upgrade Its Existing Loan Service
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.
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 DeFi—which has become a new trend thanks to projects like Chainlink—and 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.
Yuri MolchanMixture 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.
Arman Shirinyan
Alex Dovbnya
Dan Burgin
Vladislav Sopov