Bitcoin Suisse has reportedly started rolling out DeFi offerings to its customers, with the extra feature of the Liquity protocol included in its product lineup. 

Specifically, Bitcoin Suisse reportedly revealed that it plans to carry out all smart contract interactions and system monitoring on its customers’ behalf, as well as support the conversion of the borrowed LUSD token into any fiat currency.

Bitcoin Suisse reportedly functions as a centralized crypto and financial services firm, established in 2013 and headquartered in Switzerland, which provides a variety of services, including trading, custody, lending, and staking of cryptocurrencies to the majority of institutional investors.

Liquity reportedly operates as a DeFi borrowing protocol introduced in April last year, offering supporting features for users to post Ethereum collateral into its smart contract and borrow its native LUSD stablecoin at a 0% interest rate.

At the moment, Liquity reportedly possesses more than $1.1 billion in total value locked into its contract.

“DeFi offers significant improvements over traditional financial services by being more open, more transparent, and more competitive.” Head of Bitcoin Suisse Dr. Dirk Klee further shared how proud his firm was to take a “significant step” towards providing decentralized solutions to its customers. 

Publicly rolled out as a pilot phase, with Bitcoin Suisse claiming it’s only introduced to a particularly chosen group and “very small number” of its customers with the borrowing amount set above $500,000.

DeFi is reportedly turning into the talk of the town to both the crypto sphere and traditional finance, with the overall total value locked (TVL) throughout the ecosystem approaching the $215 billion benchmark, per insights generated by DeFi Llama, nearing its $254.8 billion all-time high on December 2nd of last year.