Huobi has made a strategic investment with the world’s leading DeFi and CeFi aggregator OpenOcean. OpenOcean also stated that it is working on incorporating new DeFi protocols, such as Polygon.
Huobi Ventures Blockchain Fund has made a strategic investment in OpenOcean, a pioneering full aggregator that facilitates interoperability across different networks.
Following the funding, OpenOcean will collaborate closely with the Huobi Global ecosystem to develop new DeFi and CeFi products.
Users will benefit from the new solutions as a result of increased capital efficiency and earnings from improved trading techniques.
Since its inception in the third quarter of 2020, OpenOcean has surpassed 200,000 active unique addresses with over 730,000 total transactions, amounting to about $2 billion USDT in cumulative transaction volume.
Huobi Ventures is a subsidiary of Huobi Group, the world’s largest blockchain company, that makes long-term strategic investments in breakthrough blockchain ventures.
OpenOcean raised $2 million from a consortium of investors led by Binance in March 2021. That round included Multicoin Capital, CMS Holdings, Kenetic, MarketAcross, LD Capital, and Altonomy.
Commenting on the strategic investment, OpenOcean co-founder Cindy said:
“Leading exchanges that are building in both DeFi and CeFi are investing in OpenOcean because of the value we bring as the first aggregator that connects these two previously isolated worlds. We now have, what we believe is, the best possible group of investors supporting us to facilitate our innovative products and ecosystem development.”
Major DEXes on BSC, ETH, ETH Layer2, TRON, and SOL have been successfully aggregated by OpenOcean. It’s also working on incorporating new DeFi protocols, such as Polygon.
OpenOcean will eventually offer derivatives, financing, and insurance, as well as integrated margin and yield products and intelligent wealth management services.
OpenOcean is a DeFi and CeFi bridge that functions as a one-stop full chain aggregation protocol.
It breaks down the DeFi ecosystem’s fragmentation by offering consumers access to the whole crypto market through a single, user-friendly interface.
Users have complete access to pooled liquidity and the most competitive price from a variety of centralized and decentralized exchanges.
For more information, visit: https://blog.openocean.finance/