OpenOcean, a leading DeFi and CeFi aggregator, has announced a strategic partnership with Huobi Ventures Blockchain Fund. According to the firm through a press release, the two anticipate working together closely to offer more solutions to the decentralized financial ecosystem and the CeFi sector.
Following the strategic partnership, OpenOcean received the financial backing of an undisclosed amount. Notably, Huobi Ventures Blockchain Fund is a subsidiary of Huobi Group, which is a revered blockchain company.
Consequently, the partnership is expected to help OpenOcean users access higher capital efficiencies and profits from enhanced trading strategies. Moreover, OpenOcean has been making strategic partnerships in the recent past to provide seamless trading experiences for its global customers.
The DEX aggregator has integrated with the Binance Smart Chain, Ethereum, Tron, Solana among others. Hereby, the platform has been able to surpass 200,000 active unique addresses that have made over 730,000 transactions worth over $2 billion in USDT. Mind you, the milestone has been recorded in less than a year since its launch back in the third quarter of last year.
The team behind OpenOcean has been involved in prior funding rounds from strategic crypto investors including Binance. Notably, the firm managed to raise a total of $2 million back in March 2021. The funding round was led by Binance and included notable investors like Kenetic, MarketAcross, Multicoin Capital, CMD Holdings, LD Capital, and Altonomy.
In a note through the press release, OpenOcean Co-founder Cindy noted that the firm is well poised for future growth prospects, particularly due to the support from leading crypto investors.
“Leading exchanges that are building in both DeFi and CeFi are investing in OpenOcean because of the value we bring as the first aggregator that connects these two previously isolated worlds. We now have, what we believe is, the best possible group of investors supporting us to facilitate our innovative products and ecosystem development,” Cindy noted.
As the cryptocurrency industry experiences heightened volatility, users will demand fair prices in a bid to realize profits. As a result, OpenOcean is working to integrate with other notable blockchain projects including Polygon
Reportedly, OpenOcean has integrated with over 20 decentralized exchange providers. OpenOcean users can then rest assured that they are getting the best prices and the least slippage.
