TruBit, a crypto exchange based in Latin America, today announced a strategic partnership with Morpho, a DeFi lending platform, to expand into the DeFi market through Morpho’s decentralized trading platform. This alliance marks an essential milestone for TruBit to connect its CeFi (centralized finance) services to DeFi (decentralized finance).
TruBit is a centralized digital asset platform exchange (based in Latin America) that allows users to sell, purchase, and trade a wide range of digital assets. It offers various services, including a digital asset wallet, a MasterCard-backed crypto card, and many others. On the other hand, Morpho is a DeFi lending platform that allows users to borrow assets using collateral or lend assets to earn interest.
DeFi connection for TruBit
Based on this partnership, TruBit now provides its users with a DeFi yield product operated by Morpho. The product offering enabled TruBit to fulfill the rising demand for crypto-backed loans to allow its users to easily engage with the DeFi market.
By joining forces with Morpho, TruBit customers gain a seamless avenue to move assets between their centralized crypto exchange and the DeFi world. This is the first time when TruBit customers are empowered to have compete control of their cryptocurrency trading experience without losing access to their legacy exchange services.
With this expansion, TruBit users can choose to transact assets on the exchange or interact with greater products in the DeFi landscape via the integrated Morpho interface. Through this collaborative approach, TruBit customers join Morpho’s global users to capitalize on a wide range of opportunities in the DeFi ecosystem.
Market expansion
On the other hand, this collaboration expands Morpho’s market reach to TruBit users, including customers in Latin America. Teaming up with TruBit further helps the realization of its objective and enhances the connection between traditional finance and DeFi. This collaborative agreement happens at a time when a greater trend occurs in the global market, with traditional investment firms recognizing the role of digital assets and DeFi.
Latin America is an outstanding market for crypto adoption and its growth displays no signs of declining. Morpho’s DeFi support is well-placed to benefit businesses and people in this region.
