1inch Co-Founder Talks About Expansion Of DeFi In Korean Market

1inch Network has recently made an exciting announcement for the cryptocurrency community based in Asia. The aggregator for decentralized finance (DeFi) has announced that it wants Asians to benefit from its services.

1inch Wants to Expand in Asia

The officials at 1inch Network have confirmed that they have plans of expanding their services network in the Asian region. They have already put plans in motion in order to achieve their goal.

It was during the KBW 2022 held on Monday that Sergej Kunz opened up about their plans for the Asian region. The co-founder of 1inch Network revealed that they are well aware of the existence of the decentralized finance market in the Asian region.

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According to Kunz, the DeFi sector hasn’t been able to gain much exposure and advancements in Asia, especially, in South Korea.

In order to increase its reach and influence over the Asian market, it is aiming to form strategic partnerships in the regions.

Among all the firms and companies it wants to partner with, its top priority companies would be the Web3 companies based in Asia.

Biggest Obstacle for 1inch in Asia

Kunz revealed that they have carried out their research about the people’s exposure to DeFi in the Asian region and the results do not look very good.

He added that the people in the particular region do not have much knowledge or exposure to the DeFi technologies and how they work.

It is natural for people to not deal with something if they are unaware of the benefits it can offer them. This is where they come in because their first priority would be to share as much knowledge surrounding DeFi as possible.

As people get to know more about DeFi’s benefits, advantages, and how to interact with the technology, they would feel safe interacting with the space. They will help them understand the use of DeFi and cryptocurrency wallets.

He added that as soon as people are aware of different features (buy, sell, exchange, and swap cryptocurrencies), offered through DeFi, they will start interacting with the technology.

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This would eventually help the cryptocurrency grow tremendously in the particular region. More and more people would continue becoming part of the DeFi network to make it a huge empire in the region.

Benefits of DeFi

Over time, the DeFi sector has grown huge and has welcomed so many other sub-sectors. These sectors include NFTs, Metaverse, AR, and so much more.

With the expansion in the Asian market, 1inch Network is bound to gain a lot of adoption and success. At the time of writing, the trading price of 1INCH is $0.847 and its value has gained a 3.93% surge in the past 24 hours.

In the past 7-days, 1INCH’s value has surged by 9.91%, which is very promising for the crypto asset’s investors.