Bitget to bridge the gap between DeFi and TradFi with IPOR’s practical solutions for traditional finance players.
Victoria, Seychelles, March 20, 2023 — Bitget, the largest crypto copy trading platform, has announced the upcoming listing of IPOR (IPOR) in its innovation zone of the spot market. The deposit services for digital assets will be available from 7:00 am UTC on March 22, 2023, with trading set to commence at 12:00 pm UTC on the same day.
IPOR Protocol is a decentralized interest rate derivatives exchange that utilizes the Inter Protocol Over-block Rate index. It offers non-custodian on-chain interest rate swaps through the IPOR Index, IPOR automated market maker, liquidity pools and asset management smart contracts. The protocol aims to bridge the gap between decentralized finance (DeFi) and traditional finance (TradFi) by providing risk management tools, including interest rate derivatives and indexes, for the emerging DeFi credit markets. This enhances stability and makes fixed-income investments more appealing to TradFi players.
IPOR’s team has vast experience, with members in the crypto industry since 2011, which gives it important advantages. The team includes three PhDs, quants with over 20 years of experience in fixed income, enterprise software developers with over 15 years of experience, and advisers for Cardano and the founder of 1inch Network. The interest rate derivatives market in TradFi is enormous — valued between $450–$600 trillion — yet untapped in DeFi. The IPOR protocol ranks in the top five derivatives platforms by total value locked, with over $40 million, and the top two 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 24-hour trading volume is around $845 million, ranking 10th among all spot exchanges. The platform now supports over 460 coins with 529 trading pairs.
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 Argentine footballer Lionel Messi; the leading Italian football team, Juventus; and official esports events organizer, PGL. According to CoinGecko, Bitget is currently a top-five futures trading platform and a top-10 spot trading platform.
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