The platform will initially be based on the Ethereum network, with users being able to access it using the MetaMask wallet extension. DeFi is a form of borrowing and lending that uses smart contracts and remove the need for intermediaries., said that the bank's DeFi network is running in a closed beta, which will turn into open testing on March. 1.
Klimenko, who was speaking in front of Economic Congress on Friday added that DeFi can displace traditional banking services in the future.
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