Cake DeFi powering the future of DeFi with a new enterprise-grade solution for institutions

Cake DeFi has announced the launch of DeFi’s enterprise-grade solution for institutions.

Since its inception, the company has paid out close to US$400 million in rewards and achieved more than one million retail customers from over 190 countries around the world.

When talking about digital financial services, decentralized finance (DeFi) should be mentioned because of its potential to enhance these services. The term is common in the cryptocurrency industry; DeFi attempts to dismantle the decades-old financial system by democratizing banking, lending, and trading control – leaving it in users’ hands rather than a centralized authority.

Changing the banking industry

DeFi is revolutionizing the financial industry with protocols that can get beyond conventional financial intermediaries, linking consumers directly to the markets and services they require using Ethereum’s decentralized architecture. DeFi is creating a new paradigm for trade, lending, and banking.

DeFi is well positioned for expansion in the Asian market, particularly the Southeast Asian region, where the population is comparatively young and tech-savvy.

Fintech News Singapore reported that Vietnam and Thailand have staked claims as the second and third most active nations in engagement with DeFi platforms. Similarly, the value locked in Ethereum smart contracts increased significantly during the past year in the Philippines, Indonesia, and Singapore.

Cake DeFi’s solution to revolutionize DeFi

One of the many fintech businesses accelerating DeFi is Cake DeFi. At the Singapore FinTech Festival, the company announced the launch of its B2B vertical, Cake DeFi Enterprise. The new vertical will make it easy, transparent, and self-custodial for institutions to use DeFi products and services.

At the start of 2022, the total value of assets locked in DeFi protocols had increased from US$1 billion since 2020 to more than US$200 billion. #DeFiGetsGraded