World’s First Regulated DeFi Firm Readies DEX Launch!
Swarm Markets has obtained a license from German financial regulator BaFin.
Swarm Markets provides the first fully-licensed DeFi protocol, consisting of an automated market maker (AMM) and decentralized exchange (DEX) on the Ethereum blockchain.
“It became evident that DeFi was not just a gimmicky play for crypto insiders, and there was real novelty in shared liquidity and protocol-based lending. It gained more credibility with institutions by the month, and regulators also saw it as a winning proposition.”
Despite the regulatory go-ahead, the company is still cautious. At first, it will only offer pools for major tokens such as Bitcoin, Ethereum, and DAI.
