In today’s briefing:
- Crypto.com, Independent Reserve in Top 5 for Strong AML; Binance Places 42nd
- The Long and Short of Aave
Crypto.com, Independent Reserve in Top 5 for Strong AML; Binance Places 42nd
- Familiar names in Singapore landed in the top five of a list featuring crypto exchanges with strong anti-money laundering (AML) systems.
Blockchain.com and Independent Reserve, which are both licensed to operate in Singapore, ranked first and third place respectively. Crypto.com, which has in-principle approval, placed fifth.
Binance, the largest crypto exchange in the world, in the 42nd spot.
The Long and Short of Aave
- Lending and borrowing in DeFi follows the same basic principles as it does in traditional finance: I supply some asset as collateral and I am able to borrow a certain amount of some other asset.
- However, this being DeFi, there are some important differences from TradFi.
- The most important is that the protocol has no way of knowing how trustworthy I am, and thus will require any loan to be overcollateralized.
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