DeFiChain Token DFI Lists on Houbi Digital Exchange to Tap the ASEAN and Middle East Market

What is Happening?

DeFiChain Token “DFI” will start trading against USDT on Huobi on 25th July at 6:00 UTC.

Any DFI tokens purchased on Huobi can be moved to a DeFiChain wallet, making them accessible to traders and investors. Kucoin, Bybit (ERC-20 format), Bittrex, Bitrue, Hotbit, and Bitpanda are just some of the exchanges where you can buy and sell the DFI token.

Huobi, which has been around since 2013, is a major cryptocurrency trading platform. As a result of DFI’s listing on Huobi, it will be more accessible to cryptocurrency users everywhere. With Huobi, professional crypto traders and investors have access to a complete ecosystem that allows them to buy, sell, stake, and borrow a wide variety of cryptocurrencies.

https://twitter.com/defichain/status/1551501382615801856?cxt=HHwWgIC9tbGShYgrAAAA

What Is DeFiChain?

In order to facilitate cutting-edge DeFi applications, the Bitcoin network was hard forked to create DeFiChain, a decentralised Proof-of-Stake blockchain. Its primary goal is to provide decentralised financial services that are quick, smart, and transparent. Mining for liquidity, staking, distributed assets, and loans are all services provided by DeFiChain.

Understanding How DeFiChain is Making it Easy to Enter the World of DeFi

DeFiChain is an on-chain governance blockchain that eliminates the need for a central authority. The project’s community has been actively engaged in practically every facet of the blockchain since the mainnet debut in May 2020, including nodes, masternodes, projects, tools, governance, economic concepts, and code governance. Its source code has been produced using an open-source methodology and has been subjected to extensive peer review and community discussion.

If you have a DFI token, you may access the whole DeFiChain ecosystem. Among the many things it underpins on the DeFiChain blockchain are:

• Providing Access to Multiple Sources of Liquidity
• Using staking to ensure the integrity and consensus of a blockchain
• dUSD stablecoin and stock tokens as security for creating new tokens or borrowing existing ones.

The blockchain was originally developed for use in decentralised financial applications. Consequently, it provides a full capability that is easy to use, fast, and secure for this region.

Some examples are as follows:

• Lending

• Token wrapping

• A Look at the Oracles of Cost

• Exchanges

• Debts and receivables that may be sold

• Definition of a Non-Collateralized Form of Debt

• Converting Assets into Tokens

• Payout of Dividends

  
  

Due to the modification, the native decentralised stablecoin dUSD may be used. DeFiChain users may utilise decentralised Bitcoin, decentralised Ethereum, decentralised USDC, and decentralised USD to generate stock tokens and use decentralised USD as collateral.

Houbi Receives Provisional Approval From Dubai Virtual Assets Regulatory Authority

In a recent decision, the Dubai Virtual Assets Regulatory Authority gave Huobi conditional authorisation to sell virtual asset exchange goods and services to accredited investors and licenced financial intermediaries.

The cryptocurrency exchange, meanwhile, has issued a statement saying it would focus on “professional investors.” Spot trading and OTC services will be available to a restricted fraction of pre-qualified investors and professional financial service providers. Huobi also speculated that the regional headquarters for the exchange might be set up in Dubai if the interim licence was granted.

Final Thoughts on DeFiChain “DFI” Listing

Expansion of Houbi into the Middle East market and listing of DeFiChain native tokens on Houbi is a positive sign for the crypto industry as it indicates a rise in the listing and trading of tokens in secondary markets.

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Image credits: Shubham Dhage, Mohammad Rahmani and Edi Kurniawan.