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Crypto exchange Huobi to launch its own public blockchain for decentralized financial services

by Yogita Khatri

July 1, 2019, 8:01AM EDT  ·  2 min read

Quick Take

  • Crypto exchange Huobi is set to launch its own public blockchain network focused on decentralized financial services
  • Blockchain startup Nervos will help Huobi build the network called FinanceChain
  • FinanceChain mainnet is expected to launch in Q2 2020

by Yogita Khatri

July 1, 2019, 8:01AM EDT  ·  2 min read

Singapore-based cryptocurrency exchange Huobi is set to launch its own public blockchain network focused on decentralized financial (DeFi) services, following the lead of rival Binance.

Huobi has partnered with blockchain startup Nervos for the initiative, it announced Monday. Together, they will build “FinanceChain,” which will allow financial firms and exchanges to deploy their own blockchains, tokenize assets and offer DeFi services.