NEAR Co-Founder Says On-Chain Advances Are Reducing Reliance on Centralized Exchanges
Summary
- Illia Polosukhin said advances in on-chain technology are reducing reliance on centralized exchanges (CEXs).
- He said Near.com will expand financial services including tokenized stocks, perpetual futures, and yield products.
- Near.com is working with Monerium to strengthen fiat integration by supporting conversions between euros and EURe, and in the long term aims to enable swaps of any asset through NEAR Intents.
Forecast Trend Report by Period
Illia Polosukhin, co-founder of NEAR Protocol, said advances in on-chain technology are reducing reliance on centralized exchanges, or CEXs.
Speaking at the Digital Asset Summit Asia conference in Singapore on Oct. 7, Polosukhin said users no longer need exchanges for many types of crypto activity as on-chain tools continue to scale, according to BlockBeats.
He also outlined plans to expand financial services on NEAR’s platform, Near.com. The platform supports trading in tokenized stocks, perpetual futures and yield products. Near.com is also working to add bank-account withdrawals, transaction records for tax filing, and selective disclosure features that reveal private trading information only when necessary.
The platform is also stepping up fiat integration. Near.com is working with Monerium to support conversions between euros held in traditional bank accounts and EURe, a euro-denominated stablecoin. Over the long term, Polosukhin said, the goal is to enable swaps of any asset through NEAR Intents.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul