Conflux launched cross-chain bridge ShuttleFlow on April 20 to enable digital asset swaps between some of Asia’s largest crypto exchanges such as Binance, OKEx and Huobi.
Furthermore, Conflux stated that ShuttleFlow solution is the first cross-chain bridge to support Asia’s digital asset exchanges. It also allows DApp developers to integrate multi-chain asset deposits and withdrawals by building cross-chain bridges within the Conflux Network.
‘The name ‘ShuttleFlow’ means allowing assets to flow between multiple public chains as freely as water,’ Conflux’ Global Managing Director Eden Dhaliwal told CoinDesk via email.
‘Using Conflux’s high performance, permissionless infrastructure as the foundation, ShuttleFlow is enabling a new level of interoperability between and across multiple chains with a focus on bridging DeFi development between the East and the West,’ Dhaliwal added.
In the press release with CoinDesk, he also explained that ShuttleFlow can help emerging Decentralized Finance (DeFi) projects such as lending and exchanging digital assets to receive ‘full support’ in the Chinese market.
‘What we’re doing is demonstrating the value of public blockchain to the government. Part of that is onboarding government use cases and continuing to build this case for public networks,’ Dhaliwal said.
The blockchain company added that the Chinese government is trying to protect its citizens while seeking to understand the value of public blockchain technology better.
‘Blockchain is the most influential technology of our time and it will eventually change every aspect of our society. Trust is a fundamental aspect to society and blockchain will revolutionize how it is established between humans and technology,’ Conflux Network’s co-founder Fan Long stated.
Additionally, Conflux revealed their plans on doing eight more DeFi projects in the near future if their current partnership with ShuttleFlow exceeds expectations.
In response to this development, CEO of OKEx Jay Hao praised Conflux at an interview with CoinDesk.
‘It’s very encouraging to see such high-quality blockchain projects like Conflux Network that are committed to transparency, decentralization, interoperability, and regulatory compliance partnering with OKExChain. These are the qualities that will enable strong and sustainable growth moving forward and attract developer talent from the wider ecosystem.’
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