Introduction to Cables
Moving the world’s largest market to the blockchain
Moving the world’s largest market to the blockchain
Cables is a decentralized exchange built on Algorand designed to integrate currency rails in TradFi and crypto seamlessly. By creating a symbiotic relationship between TradFi and crypto, Cables merges and reinforces the advantages of both financial ecosystems. We are thrilled to be tackling a long-standing disconnect between the largest market in the world (FX) and the booming space of crypto and DeFi. Read more about Cables and our mission below, and keep an eye out for more news coming soon.
Background
Cables aims to give accessibility to institutions and retailers across the TradFi, CeFi, and DeFi ecosystem through a non-custodial exchange built on Algorand. Traditional finance is guarded and restricted to select participants built on inefficient markets, favoring wholesale participants. The advancements in blockchain technology have led to significant growth across different digital protocols and the ultimate creation of DeFi. DeFi projects have made trading and borrowing/lending a barrier-less, peer-to-peer marketplace contrary to the traditional financial markets or brokers. These DeFi projects tend to be siloed across specific blockchains, but that is precisely the problem Cables addresses. We believe that all financial products will transact on-chain in the future, which is why we are building a decentralized exchange solution that will disintermediate the intermediaries at the application layer.
Core Beliefs:
- The added layers and middlemen in FX trading make price discovery and trading complex and should be more accessible for all fiats
- Trading should be accessible for all, not just select participants
- Fiat to crypto conversion should be efficient, secure, and easily accessible
- Cross-blockchain marketplaces have the ability to connect institutions and individuals to both liquidity and resources not previously available to them.
- A compliant DeFi network (ie. Algorand) needs to be incorporated to power these applications, while also having the ability to be cross chain
Cables Overview
Cables are automated smart transactions and financial rails for bringing FX onto the blockchain. The innovation in traditional finance has fallen behind the digital asset industry that looks to disrupt and decentralize business models. Despite the rapid growth in the digital asset industry compared to traditional finance, there is a lack of effective risk mitigation solutions across the blockchain and digital asset ecosystem. The advancements in technology will continue to connect more and more people, industries, countries, and assets electronically, so managing and facilitating global commerce with a solution agnostic to an asset, currency, or technology is needed to protect their assets.
Cables will have permissionless and permissioned pools so that every intended user can transact with optionality. that powers smart transactions to manage FX and Risk management across B2B, B2C, and Financial verticals built on Algorand and other protocols. This suite of dApps creates an automated smart contract on the blockchain so companies can take control of their fx spot, rolling spot, swaps, and risk management. Cables will allow people, companies, and industries to trade freely and automatically manage their currency and assets exposure with greater efficiency..
Follow our journey
We are working hard behind the scenes to bring Cables to the market as quickly as possible and will continue to share updates across our social media channels. So follow along with our journey across these outlets, and we look forward to connecting with you more in the near future.
