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Vandana Malik
Apr 8, 2020
by Vandana Malik

CDA Connecting Trading Firms with Open Finance Projects

CDA
Chicago DeFi Alliance (CDA) is an initiative to support the startups of the crypto market financially. It has been created by a few crypto trading firms of Chicago to connect with the DeFi projects. The firms which have launched CDA are DRW trading, Volt Capital, CMT Trading and Jump Trading.

It has been announced on Tuesday that the main purpose to launch CDA is to give more exposure to crypto traders with Open Finance (DeFi) projects across the world.

CDA to provide a platform to DeFi projects

It has been specified by the alliance that the main aim is to make DeFi projects familiar with the complete trading scenario of Chicago. DeFi projects that mean decentralised finance projects aim to provide adequate financing to different firms. Here CDA will provide such projects a platform to connect it with trading firms or other liquidity providers.

Here in this project, every DeFi project will be paired with a guide which will train it. The training is to provide them adequate information about the needs of the trading firms in DeFi. By the end of the four to six weeks training, the startups need to get clear about what they will produce. They also need to figure out how to attract different firms to generate more resources.

A channel to learn about DeFi

There is a lack of knowledge among the crypto traders or different firms regarding DeFi. Even though a lot of them must be interested in such projects but because of unfamiliarity, they are unable to connect with it. CDA is also aiming to provide a channel so that firms will be able to get adequate knowledge about DeFi.

CDA is going to provide dual benefits to the trading firms. The first would be that it will provide proper knowledge to everybody about DeFi so that they can get benefit out of it. Secondly, there will be financial support to the various trading firms.

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    CDA Connecting Trading Firms with Open Finance Projects
    Vandana Malik
    Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

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