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ProBit Exchange and EasyFi Collaborate to offer New-Age DeFi Lending Products

On Wednesday, December 22, ProBit Global announced a strategic collaboration with the EasyFi Network to explore, design and build new-age DeFi lending products and services for old and new DeFi users.

This partnership comes at a time when the DeFi space has already witnessed a boost in its TVL – which has gone from less than $1 billion in January to more than $16 billion as of December 2020. Therefore, EasyFi and ProBit’s collaboration holds the potential to further increase DeFi adoption among CeFi users by introducing relevant and necessary products and services.

The partnership kicks off with the primary listing of $EASY – the EasyFi Network token – on ProBit Global. While the deposits of EASY on ProBit began on December 22, at 12:30 IST, the actual trading is to go to effect on December 23 at 12:30 IST  (16:00 KST / 07:00 UTC). The trading pairs for now are EASY/USDT and EASY/BTC, as well as EASY’s first fiat pair: EASY/KRW.

EasyFi 101

EasyFi is a universal layer 2 lending protocol built for DeFi that focuses on scalability, composability, and adoption, and facilitates end to end lending and borrowing of digital assets and related financial products. The platform focuses on providing undercollateralized loans to borrowers through services such as Micro-Lending and Payday Loans. As for Probit Exchange, it is one of the top 20 crypto exchanges on a global scale, and one of the top 4 within Korea. 

With EasyFi’s community-first approach being echoed by ProBit, this collaboration can pave the path for the integration of CeFi with DeFi, as well as  enable inter-platform interaction and integration in a way so that users of one of the platforms can utilize the other’s offerings with ease. For instance, Probit users will be able to avail the staking programs and other structural lending products on EasyFi without exiting the ProBit infrastructure.

On the other hand, Probit – with its huge user base and fantastic global reach – can ensure DeFi adoption in new corners of the world. The collaboration already serves to boost EasyFi’s presence in Korea immensely, where the platform has recently expanded with an official community group. You can join the EasyFi Korean community here.

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