FinNexus, a DeFi platform and Bitrue, the leading financial services platform, have joined hands to announce their move to expand services to the ecosystems of XRP and Wanchain through real-world asset tokenization.
The first project from this partnership will be the FNX token, an asset with a unique conversion mechanism that upholds FNX’s price, with the opportunity for users to change their investment portfolio’s risk level at any time, according to company statement.
Boris Yang, the CEO of FinNexus said:
“Supplying investors with a diverse range of quality assets for different investment strategies is very important in the post-COVID-19 market. We will use advanced blockchain and legacy system protocols to make more assets accessible on-chain throughout the world.”
Going by the report, Boris Yang’s team believes that the key to DeFi’s future is not limited to the traditional finance industry’s investment options but also to truly cutting-edge innovations.
Supported by Wanchain, FinNexus has already included tokenized assets in its 2020 roadmap intended to be released on XRP Ledger.
Thus, its initial partnership with Bitrue, which has a strong user base in Europe and South-East Asia, aims to launch a token sale for its native utility token FNX starting on May 11, 2020.
Reacting to the new development, the CEO of Bitrue, Curis Wang said:
“Innovation has always been at the heart of Bitrue, from the introduction of our Power Piggy product that gives ordinary investors a chance to earn while they sleep, to our adoption of XRP as a base currency, we’re always on the lookout for new ways to bring value to our users. We’re excited to be working on yet another cutting edge and unique financial product.”
Boris Yang was the founding technical lead at Wanchain, as he wanted to build a more effective global financial system, according to the report.
Now that the technological foundation has been laid, his new goal as FinNexus’ current CEO is to deliver the value to the respective crypto-currency holders.
Boris Yang said:
“We want to build FinNexus into a crypto supermarket, where users may discover many different unique products to efficiently satisfy their needs.”