Cake DeFi has announced the launch of its B2B vertical, Cake DeFi Enterprise at the Singapore FinTech Festival. The new vertical will enable institutions to access DeFi products and services in a simple, fully-transparent and self-custodial manner.
Since 2020, the total value of assets locked in DeFi protocols has grown from US$1 billion to over US$200 billion at the beginning of 2022. With a total Serviceable Addressable Market of US$47 billion, Cake DeFi will be scaling and launching Cake DeFi Enterprise to serve the burgeoning institutional market as well as digital assets managers looking to explore more DeFi investment products across other blockchains.
“With the launch of Cake DeFi Enterprise, we will be scaling Cake DeFi’s trusted and transparent model to provide a secure gateway to DeFi for institutions. In the past year, we have received many institutional business enquiries, indicating a strong demand for institutional DeFi services. Our unique full self-custodial solution will allow institutional clients to retain full control and ownership of their digital assets while enjoying the yield and transparency of DeFi. Our new B2B vertical Cake DeFi Enterprise supports the Singapore Government’s direction on digital asset innovation. We are committed to building the B2B digital asset infrastructure and uplifting Singapore’s blockchain ecosystem to drive innovations in fintech,” said U-Zyn Chua, CTO and Co-founder of Cake DeFi.
Cake DeFi Enterprise’s enterprise-grade DeFi solution for institutions is built on the three unique selling propositions of full self-custody, complete transparency, and simplified fund management. Cake DeFi Enterprise plans to launch DeFiservices such as Liquidity Mining, Token Swaps and Lending in the initial phase, with the suite of services to be expanded over time.
Cake DeFi Enterprise’s fully self-custodial solution will allow customers to have full ownership of their keys, thereby retaining full ownership of their digital assets. Customers will therefore be able to move their funds directly to DeFi products and services on-chain and track their yields directly on the blockchain, with complete transparency. Fund management is made simple and secure with multi-signature wallets, multiple approvers and sub-account set-ups.