Bitfinex Integrates pNetwork To Bring Crypto Assets Cross-Chain
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Bitfinex Integrates pNetwork To Bring Crypto Assets Cross-Chain

October 23, 2020      Jafrin Ahmed

The parent company of Bitfinex crypto exchange, iFinex Inc. has announced today its integration with pNetwork to enable a cross-chain system for moving assets from one blockchain network to another. The integration also includes listing pTokens such as pETH, and pLTC on non-custodial digital asset exchange eosfinex, a part of the iFinex brand.

Towards Cross-chain Tokenization

pNetwork is a decentralized governance layer running through the pTokens bridge. As a transparent and secured solution connecting multiple blockchain protocols, pTokens enables the transferring of assets through its pTokens bridge.

As DeFi continues to grow, dApps and cross-chain tokenization are still restricted by blockchain walls. pTokens allows the ability for digital assets to be used across various blockchain-powered apps and cryptocurrency exchanges through its pTokens bridge. This allows crypto holders to explore Ethereum and EOS DeFi without having to trade their cryptocurrencies.

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Paolo Ardoino, CTO at Bitfinex said:

“We’re delighted to announce this significant milestone providing Bitfinex customers the opportunity, through our noncustodial service, eosfinex, to trade leading digital tokens cross-chain. Our support for pTokens will provide a much-needed gateway to the DeFi ecosystem for Bitfinex customers using Bitfinex liquidity.”

Cryptocurrencies Can Tokenize and Move to DeFi Through Bitfinex

The integration will enable cryptocurrencies to tokenize while moving to DeFi blockchains directly through Bitfinex itself. Tokens such as pBTC, pLTC, and pETH can be deposited and withdrawn from Bitfinex for Ethereum and EOS through the pTokens network.

Thomas Bertani, Project Lead at pNetwork, said:

“eosfinex and pTokens both aim to improve the decentralized finance experience for users. eosfinex lets its users tap directly into Bitfinex order books, bringing the liquidity of a major centralized exchange to the decentralized world. pTokens will unlock the capabilities of today’s biggest digital assets, making them compatible across different blockchain-based dApps. Together, eosfinex and pTokens will act as a bridge between the EOS ecosystem and Bitcoin’s vast market.”

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#Bitfinex #Eosfinex #IFinex #PNetwork #PTokens
Jafrin Ahmed
Jafrin Ahmed

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.