Singapore cryptocurrency exchange Huobi has informed about its plans to launch own public blockchain for providing services in the sphere of decentralized finances – investment resource has got to know.
To run decentralized network FinanceChain, with those help financial companies and exchanges will be able to open their own blockchains, tokenize assets and provide services of decentralized finances, Huobi has entered into a partnership agreement with Nervos startup.
Due to FinanceChain users can create stablecoins, make offers of token-shares and create decentralized exchanges. In addition, FinanceChain will support KYC-instruments and will correspond regulators` requirements concerning AML. Also, FinanceChain will get maintenance of payment services.
“More and more assets go to the digital world, including cryptocurrencies and traditional physical assets. Financial industry now stays at a critical stage, and together with Huobi we have an opportunity to assist its modernization and create decentralized future”, – the founder of Nervos company Kevin Wang noted.
Developers are going to present the project source code in the third quarter of this year. The launch of testing network will happen at the beginning of next year. And main network will start in the second quarter of 2020.