Bitfinex launches the first L2 bridge from CeFi to DeFi

Cryptocurrency exchange Bitfinex today announced a market debut service to connect its centralized platform with a layer 2 decentralized trading platform and subsidiary DeversiFi.

The bridge will combine CeFi’s high liquidity and accessibility features to allow users to access DeFi’s permission-free and privacy-centric experience. A statement issued by the company stated that trading will initially be limited to Tether (USDT)-a stable currency affiliated with the exchange-but may eventually be opened to various ERC-20 tokens in the future.

Based on Ethereum, DeversiFi is a trading platform built on StarkWare’s scalable technology. Two months ago, they launched the first layer 2 bridge between Ethereum and the Polygon network.

Related: Ethereum-based DeFi platform DeversiFi raised $5 million in strategic investment

Will Harborne, CEO and co-founder of DeversiFi, said: “Layer 2 is the future of blockchain. Whether it’s Bitcoin’s Lightning Network, or aggregates such as Ethereum’s DeversiFi, cryptocurrency and DeFi are finally about to become all Used by people.