Singapore-based Delta Exchange has announced the launch of interest rate swaps (IRS) on DeFi rates, flash rates on Bitfinex, and interest rates on the BitMEX perpetual swap, starting today.
According to the company, Delta will soon launch IRS for USD Coint (USDC) lending rates on Compound Finance and Dai (DAI) lending rates on Compound Finance at 50x leverage.
As the name suggests, an interest rate swap is a forward contract in which one stream of future interest payments is exchanged for another based on a specified principal amount.
Opening up a bridge between centralized and decentralized exchangesSpeaking with Cointelegraph, Pankaj Balani, CEO of Delta Exchange, said it was a first in the industry:“Delta Exchange will be the first centralized exchange to offer interest rates swaps on any interest rates in the crypto ecosystem.
Interest rate swaps are one of the most traded derivatives contracts in the traditional markets.

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