CryptocurrencyDeFi

Curv cryptocurrency custodian integrates DeFi Compound protocol

The custodian cryptocurrency service Curv integrates the DeFi Compound protocol for P2P loans in cryptocurrency at a low percentage.

Compound’s Decentralized Finance (DeFi) Protocol has integrated with Curv, a cryptocurrency custodian that serves institutional investors. Integration could bring new financing to DeFi, an emerging industry that traditional investors have not yet reached.

In Compound, users can borrow cryptocurrencies to each other using smart contracts and receive interest on them in accordance with the rates determined by Compound algorithms. Recall that at the end of last month, the total amount of blocked assets in the protocol exceeded $ 1 billion, and the number of borrowers reached 4,000. Now the volume of blocked assets has already reached $ 1.7 billion.

The DeFi industry has been booming for several months now. DeFiMarketCap estimates the total market capitalization of DeFi in April to reach $ 1 billion, and last month it already exceeded $ 2 billion. As of today, the total market capitalization of DeFi has reached $ 8.3 billion.

Thanks to the Compound integration, Curv’s clients, including global investment fund Franklin Templeton , “no longer need to leave their digital assets dormant,” Curv notes in a partnership statement . Instead, they can make money from their cryptocurrency by borrowing it through Compound smart contracts.

As a reminder, this month, infrastructure solutions provider and custodian cryptocurrency service Curv conducted a successful Series A funding round, which raised $ 23 million.

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