South Korea’s wise contract auditing company Sooho.io is partnering with Lambda256, the blockchain subsidiary of Upbit operator Dunamu, to establish a bridge layer connecting the country’s fragmented decentralized finance (DeFi) and Net 3. ecosystem.
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- The new bridge will operate as a frictionless World wide web 3. fiscal layer that enables people to go and trade electronic belongings on many distinctive public blockchains — related to the SWIFT procedure in regular banking, Dunamu and Sooho.io explained.
- Aiming to unify South Korea’s “fragmented” mainnet and DeFi current market, the new bridge layer will also enrich the interoperability between South Korean protocols.
- Sooho.io will establish the bridge and a decentralized trade (DEX) on leading of Lambda256’s mainnet committed to accommodate decentralized applications (dApps) named “The Balance.”
- “We are uniquely positioned to not only carry collectively the fragmented Korean crypto business, but join it to the relaxation of the environment,” stated Jisu Park, CEO and founder of Sooho.io.
- Dunamu operates Upbit, the most significant cryptocurrency exchange in South Korea — the business just lately turned the very first crypto corporation to be named a conglomerate by the state, with about 10.82 trillion received (US$8.7 billion) in whole assets.
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