Galaxy Digital's recent over-the-counter (OTC) option trade is a significant step towards integrating the conventional financial system into decentralized finance (DeFi) infrastructure. The collapse of several crypto lenders and FTX's blowup have highlighted the risks of centralized finance (CeFi), which has boosted DeFi's popularity. Galaxy's trade with Ribbon Finance's options trading platform, Aevo, removes credit risk by allowing users to send their collateral to a smart contract rather than a counterparty. This move is crucial in providing the liquidity needed to help DeFi derivatives continue to grow.
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Galaxy Digital Executes First Over-the-Counter Option Trade, Advancing Decentralized Finance Infrastructure
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