Bitfinex Spin-Out Says Funds Are Lining Up for Its New Decentralized Exchange

Bitfinex Spin-Out Says Funds Are Lining Up for Its New Decentralized Exchange

Credit: Shutterstock/skrotov

Bitfinex-incubated DeversiFi claims its re-released decentralized exchange (DEX) is receiving interest from institutions, thanks to a privacy layer that can protect their trading strategies from rivals.

A DeversiFi spokesperson told CoinDesk that the firm had already had a “significant pipeline of funds” interested in integrating with the exchange following the implementation of its new software implementation, DeversiFi 2.0, which went live on Wednesday.

Although they wouldn’t divulge particular details, the spokesperson said: “We have interest from 70 funds and large traders and have 18 funds ready to trade on DeversiFi 2.0 at or around launch.”

The smallest of these funds had around $1 million in assets under management (AUM), while some of the bigger clients had AUMs “well into the tens of millions.”

A spokesperson said some institutional clients saw DeversiFI 2.0 “as a key bridge to crossing from the centralized to the decentralized trading space.”

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