Bitget to bridge the gap between DeFi and TradFi with IPOR practical solution for traditional finance players
Victoria, Seychelles, March 20, 2023 (GLOBE NEWSWIRE) -- Bitget, the largest crypto copy trading platform, has announced the upcoming listing of IPOR in its Innovation Zone of the spot market. The deposit services for digital assets will be available from 7 AM on March 22nd, 2023 (UTC), with trading set to commence at 12 PM (UTC) on the same day.
IPOR Protocol is a decentralized interest rate derivative exchange that utilizes the Inter Protocol Over-block Rate (IPOR) index. It offers non-custodian on-chain interest rate swaps through the IPOR Index, IPOR AMM, liquidity pools, and Asset Management smart contracts. The protocol aims to bridge the gap between DeFi and TradFi by providing risk management tools, including interest rate derivatives and indices, for the emerging DeFi credit markets. This enhances stability and makes fixed-income investments more appealing to traditional finance players.
IPOR team's vast experience, with members who have been in the crypto industry since 2011, gives it important advantages. It includes three PhDs, quants with over 20 years of experience in fixed income, enterprise software developers with over 15 years of experience, and advisors for Cardano and founder of 1inch. The interest rate derivative market in TradFi is enormous, between 450 and 600 trillion notional, yet untapped in DeFi. The IPOR protocol ranks as the Top 5 derivative platform by TVL, with over $40 million, and the Top 2 on Ethereum.
Gracy Chen, Managing Director of Bitget, says: "As a leading crypto exchange in futures trading and copy trading, expanding the product offerings is our major strategy this year. Even in the bear market, we are happy to support more promising projects in our fast-growing spot trading market, and we believe that IPOR's unique features will attract both DeFi and TradFi players, bringing DeFi to a wider audience."
According to Coingecko, Bitget's 24h trading volume is around $845 million, ranking 10th among all spot exchanges. The platform now supports over 460 coins with 529 trading pairs.
About Bitget
Bitget, established in 2018, is the world's leading cryptocurrency exchange with futures trading and copy trading services as its key features. Serving over 8 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. It also inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi, the leading Italian football team Juventus, and official eSports events organizer PGL. According to Coingecko, Bitget is currently a top 5 futures trading platform and a top 10 spot trading platform.
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CONTACT: Rachel Cheung Global PR Manager Bitget media-at-bitget.com
