The Suisse firm Bitcoin Suisse has started offering decentralized finance (DeFi) services to their clients after adding the Liquity protocol to its range of products. Bitcoin Suisse is a crypto financial services company and was founded in 2013. It offers services like trading, custody, lending and staking of cryptocurrencies to investors.
Liquity is a DeFi loan protocol that was launched in April of 2021. The protocol currently has over $1.1 billion in total value locked .
Bitcoin Suisses’ new DeFi services will allow customers to post Ethereum (ETH) collateral in the protocol to mint and borrow the Liquity Dollar (LUSD) stablecoin.
On April 20, Bitcoin Suisse announced that they will be performing all smart contract interactions and system monitoring on behalf of its clients. The borrowed LUSD will also be allowed to be exchanged into any fiat currency.
The CEO of Bitcoin Suisse, Dr. Dirk Klee, stated in a tweet that he is proud of the fact that his company is taking a “significant step” in providing decentralized solutions to its clients.
Klee also stated that DeFi offers significant improvements over traditional financial services by being more open, more transparent, and more competitive.
Bitcoin Suisse revealed that the services will only be available to a select few of its clients as the borrowing amount is set to over $500,000.
According to DeFi Llama, DeFi is quickly becoming an interesting topic in the crypto and traditional finance sectors. Across the entire ecosystem there is about $215 billion in total value locked, which is very close to the all-time high of $254.8 billion that was seen in December of 2021.
Continue reading on CoinQuora
Source: Cryptocurrency - investing.com
