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Bitfinex integrates pNetwork to improve blockchain interoperability
Bitfinex integrates pNetwork to improve blockchain interoperability
Crypto

Bitfinex integrates pNetwork to improve blockchain interoperability

By Amelia Tomasicchio - 22 Oct 2020

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iFinex Inc. today announced the integration of the pNetwork protocol and its pTokens, a cross-chain system that increases blockchain interoperability thanks to tokens that can be easily moved from one chain to another.

Thomas Bertani, Project Lead of pNetwork and CEO of Eidoo, said: 

“eosfinex and pTokens both aim to improve the decentralized finance experience for users. eosfinex lets its users tap directly into Bitfinex order books, bringing the liquidity of a major centralized exchange to the decentralized world. pTokens will unlock the capabilities of today’s biggest digital assets, making them compatible across different blockchain-based dApps. Together, eosfinex and pTokens will act as a bridge between the EOS ecosystem and Bitcoin’s vast market”.

The integration foresees that pNetwork’s synthetic crypto assets, i.e. pBTC, pETH and pLTC, will be listed on both Bitfinex and eosfinex, a non-custodial platform used to trade EOS-based tokens.

Paolo Ardoino, the CTO of Bitfinex and Tether, said:

“We’re delighted to announce this significant milestone providing Bitfinex customers the opportunity, through our noncustodial service, eosfinex, to trade leading digital tokens cross-chain. Our support for pTokens will provide a much-needed gateway to the DeFi ecosystem for Bitfinex customers using Bitfinex liquidity.”

pNetwork on EOS

pNetwork is among the most successful projects creating synthetic bitcoin and only yesterday Brendan Blumer, CEO of Block.one, praised the project as it also helps the EOS blockchain to improve its interoperability. There are currently over 50 pBTC on the EOS blockchain, which corresponds to over 50 bitcoin worth nearly $700,000.

Steven Quinn, Head of Product & Business Strategy at eosfinex, explained:

“While pTokens connects multiple blockchain environments, eosfinex bridges the centralized and decentralized exchange worlds. This strategic cooperation between the two projects will result in a high throughput, cross-chain, decentralized trading experience for DeFi users.”

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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