DeFi Is Coming To China

mage source credit - Google Images

Coindesk reports that the Chinese government-backed blockchain Conflux is going to introduce 'DeFi in mainland china.

"The company told CoinDesk that even though ICOs and fiat-to-crypto trading are not allowed in China, crypto-to-crypto trading is not banned."

"Conflux, a blockchain startup backed by the city of Shanghai, announced Wednesday it has formed a strategic partnership with the cryptocurrency exchange OKEx’s decentralized public blockchain, OKExChain, to help DeFi projects enter the Chinese market."

What effect will it have on DeFi?

I believe that it will add Billions of dollars in TVL to DeFi.

Source credit and full story - https://www.coindesk.com/shanghai-backed-conflux-blockchain-wants-to-bring-defi-to-china

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