Woonkly Labs announced the launch of DeFi.finance, its latest addition to the decentralized finance (DeFi) ecosystem, which is the first automated market maker.
It is a tool aimed at institutional investors by complying with strict regulations on money laundering (AML) and Know Your Customer (KYC), using its Estonian independent crypto exchange license.
The startup group focused on blockchain innovation announced the new platform during the 7th edition of the Global Blockchain Congress, held on June 21-22 in Dubai, of which Woonkly was the main sponsor.
“The cryptocurrency exchange that AMM uses is a huge market, with providers like Uniswap or Pancakeswap exchanging billions of dollars every day. Woonkly Labs is entering this exciting market with a new regulated product that follows strict AML and (KYC) policies, under our Estonian Crypto Exchange License, ”said DeFi.finance founder Daniel Santos.
He highlighted that traditional exchanges like Coinbase are very popular, but money flows to AMMs like Uniswap and others.
“We are entering the future of crypto exchanges with a new, regulated and fully compliant product with unique features that will allow us to compete around the world,” he said.
According to Santos, a regulated AMM will bring institutional investors to this new world.
“We are embracing the ‘HyFi’ market for hybrid finance as a bridge between DeFi and traditional and regulated financial institutions“, he added.
DeFi.finance is built under the rare and desirable crypto exchange license that Woonkly Labs owns in Estonia.
The platform was launched after a long development process with a decentralized team of more than 35 people based in Estonia, Spain and Mexico.
“Our goal is to become one of the main players in the world of decentralized finance (DeFi),” said Santos.
About Woonkly Labs
Estonian-based Woonkly is a business builder focused on blockchain technology innovation.
DeFi.finance is its first project, and it will soon launch an NFT-based social network and marketplace, entering the promising world of non-fungible tokens (NFTs).
Started by Daniel Santos and with a team of more than 35 people (60 by the end of the year), Woonkly Labs aims to create the most popular blockchain startups.
Woonkly’s token, WOOP, is listed on various exchanges, with a total market capitalization of $ 250 million and a daily trading volume of $ 2 million.
DeFi.finance has a Total Blocked Value (TLV) of over $ 80 million upon its beta launch, demonstrating the power of DeFi and the pent-up demand met by DeFi.finance.