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Centralized Exchanges Embrace DeFi: Bybit, Coinbase, and Binance Double Down on “CEX-on-Chain” Revolution
- Large centralized exchanges are shifting towards responsible behavior by looking into on-chain ecosystems to build a trading environment with reduced risks for users.
- Bybit is leading the charge with the launch of Byreal, an apparent DEX built on Solana, to bridge the gap between centralized exchanges and DeFi.
- Byreal combines RFQ and CLMM to offer tight spreads and fast execution within a decentralized framework, aiming for institutional-grade features and fair-launch vaults.
- Coinbase and Binance are also venturing into DeFi territory with on-chain solutions like Base Layer-2 network and Binance Alpha platform.
- The strategic shift towards on-chain operations is driven by capital inflow, token price discovery, builder preferences, and user demand for trust and access.
- The concept of 'CEX-on-Chain' signifies a transformation towards open, global financial marketplaces where centralized reputation and decentralized infrastructure coexist.
- The move towards a hybrid model leaves room for speculation on whether centralized exchanges and on-chain operations will set a new industry standard.
- Byreal's launch will be closely monitored to assess the success of hybrid models and the potential adoption of 'CEX-on-chain' practices.
- The article does not provide trading or investment advice and emphasizes the importance of conducting research before engaging in cryptocurrency investments.
- Overall, the article delves into the ongoing industry shift towards decentralized finance and the emergence of 'CEX-on-chain' as a significant trend in the crypto space.
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