DeFi
Exchanges are reinventing themselves in the DeFi ecosystem!
Sun May 26, 2024 ▪ 3 min reading ▪ by Emile S.
Crypto exchanges are no longer just trading platforms. They are transforming into full-fledged DeFi ecosystems. This is the case of Bitget Wallet, which has just announced the launch of Bitget Onchain Layer, an ambitious integrated layer to access the entire world of decentralized finance. All supported by a dedicated fund of $10 million.
Crypto giants are building their empires!
Bitget Wallet has just announced the creation of a fund of 10 million dollars to develop its crypto ecosystem. His goal ? To deploy its own layer of on-chain services, “Bitget Onchain Layer”. But this heavyweight is not an isolated case. Many reputable crypto platforms are now taking this strategic route.
OKX, Binance and Kraken, all these world leaders have doubled their stake. Each offers its integrated decentralized crypto wallet as well as its proprietary blockchain. A large-scale initiative to offer a complete service to users.
Simplified access to the vast DeFi world
At the heart of this transformation is the quest for mass adoption of crypto. By bringing together all services within a single ecosystem, exchanges greatly facilitate access to decentralized finance. No more tedious back and forth between applications!
Now, a simple multi-chain wallet like Bitget Wallet is enough to interact with the vast DeFi world. Users can thus access numerous DeFi services, all within an integrated and simplified interface.
New challenges ahead
However, this DeFi shift comes with challenges for these platforms. The main difficulty remains designing a fluid and user-friendly overall experience. It is necessary to master the complexity inherent in these multiple interconnected decentralized services.
Another major challenge: properly integrating all the constantly evolving innovations in the crypto universe. Whether it’s DEXs, NFTs, Metaverse, Web3 or DeFi on new networks like Celestia.
The launch of Bitget Onchain Layer illustrates the profound transformation underway with crypto exchanges. We no longer see platforms limited to simply trading assets. We have now integrated “all-in-one” ecosystems where decentralized financial services take center stage.
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Emile S.
Passionate about blockchain technology and cryptocurrencies, we help to popularize and democratize this new world. “Chancellor on verge of second bank bailout”
DISCLAIMER
The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.