Exclusive: Bithumb set to launch DeFi platform as a Polkadot Parachain

Bithumb, a major cryptocurrency exchange based in Korea, announced the upcoming launch of Clover, a blockchain platform targeted for decentralized finance and powered by Polkadot (DOT) technology. Chris Li, Clover CEO and formerly the chief marketing officer of Bithumb Global, told Cointelegraph that the exchange has a different vision for the platform.

Li said that the company believes the next stage for DeFi is “transferring assets and value across different platforms,” and that Bithumb will contribute to advance the overall DeFi and Polkadot ecosystems. The support from Polkadot was crucial for the company’s plans of a custom blockchain, as “Bithumb tried to build chains before but no result came out,” Li added.

Timeline of Polkadot-new