The Jibrel Network's CryDR Switch will use the Loopring Protocol to eliminate counterparty risks.
We are pleased to announce our partnership with Jibrel Network, the first decentralized agreement to store and process traditional financial assets on the Ethereum blockchain.
As the Jibrel Network expands globally, the partnership will reduce the risk for both traditional and institutional investors, increasing liquidity and equity. With Loopring, members are protected from threats such as swapping bankruptcy and DDOS attacks.
Talal Tabbaa, a co-founder of the Jibrel Network, said: “The Jibrel Network is pleased to announce a strategic partnership with Loopring that will enable us to explore one of the industry's most technologically advanced protocols. With Loopring, we can use distributed CryDR trading methods to eliminate the risk of counterparties. Loopring has one of the strongest technical teams and this is a significant step toward global expansion of the Jibrel Network. ”
The Jibrel Network marks traditional assets as traditional assets and embeds relevant real-world rules. Loopring allows for the exchange of assets in a decentralized way to ensure that the counterparty's risk is eliminated. The Jibrel Network will test the CryptoDepository Receipt (CryDR) exchange through the Loopring Protocol and the decentralized automation system. All ERC20 tokens on the blockchain with smart contract support can be traded under Loopring.
“Loopring’s automated trading protocol is designed to eliminate counterparty risk for partners like Jibre,” said Jay Zhou, Loopring’s CMO . “by working with the Jibrel Network we are able to expand the target market as Jibrel's CryptoDepository revenue starts with encryption and money market instruments but extends to all traditional assets.”
As part of the partnership, Jibrel Network will also add Loopring’s token, LRC, to their jWallet.
For more up-to-date information, join our social media:
⭑ Twitter: https://twitter.com/loopring.org
⭑ Rocket Chat: https://loopring.rocket.chat
⭑ Telegram: https: //t.me/loopringfans & https: //t.me/loopringinternational