Singapore’s largest cryptocurrency exchange Huobi to launch its own public blockchain network

• Huobi readying to launch its own public blockchain network targeting decentralized financial services
• Nervos, Blockchain startup will be assisting Huobi to build the network dubbed FinanceChain.

Singapore-based cryptocurrency exchange Huobi are working on launching their own public blockchain, which will be focused on decentralized financial services. The exchange will be working with Nervos, a blockchain start-up to construct the network.  

The project which is called FinanceChain is anticipated to launch in Q2 2020. It will allow financial firms in addition to exchanges to deploy their own blockchains, tokenize assets and offer DeFi services.

Furthermore, FinanceChain will allow the support of hosting; lending services, stablecoins, security token offerings (STOs) and decentralized exchanges (DEXs), as well as payment services.