Singapore-based Huobi is expanding its presence in decentralized finance (DeFi).
The crypto exchange announced support for two autonomous loan making vehicles, the infamous MakerDao and a similarly open-sourced Compound protocol, according to an August 19 statement.
Both ethereum-based protocols serve as “market-makers” by allowing borrowers to take out liquid loans against a pool of assets.
“Decentralized, transparent applications are the future of finance, and will lead to a wealthier, more connected world. But so far, DApps have been difficult to access and use. Huobi Wallet is making decentralized finance more accessible — which has the potential to change society,” said Robert Leshner, Founder and CEO of Compound.
Huobi will enable access to Maker’s autonomous, collateralized loan service through integrating the protocol’s CPD Portal, as well as Compound’s lending service.