UK exchange Archax has partnered with Algorand (ALGO) to build new financial products related to DeFi, according to a blog post published on August 27.

• Archax has plans to release new financial products alongside equity and debt and believes Algorand’s technology will suit their blockchain agnostic marketplace
• Products that are being considered include a stablecoin, lending and borrowing services
• Institutional accessibility and adoption is a primary motivator in forming the partnership, as is as bridging centralized and decentralized financial services 
• Archax became the first exchange to be regulated by the Financial Conduct Authority (FCA) to conduct operations on August 19
• Algorand is a next-generation blockchain that performance, scalability and security challenges

Related Reading:

• Algorand launches stateful smart contracts for DeFIi
• Coinbase lists Algorand