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Breaking News / Cryptocoins / NEM

NEM Up 5% In New Partnership Announcement

Today, NEM have made a new partnership announcement that will see the currencies New Zealand based community have improved, transparent access to the NEM blockchain for trades and exchanges. The partnership, see’s a pairing between NEM and Christchurch based BitPrime, a trading platform used by over 9,000 people, giving their customers access to over 50 different cryptocurrencies.

NEM as a currency is responding very well to this news. At the time of writing, NEM is valued at $0.25, up 5.06%. With rivals Monero and VeChain both down 0.62% and 0.61% respectively, we can see that NEM is making positive movements of its own, away from the general market trend, proving that this announcement has at least excited some investors and inspired some new interactions on the NEM blockchain.

According to the NEM Medium post, the NEM Director for Australia and New Zealand, Jason Lee has said:

“Firms like BitPrime are a key part to the blockchain and cryptocurrency ecosystem. This partnership will signify a big win for both parties because of the shared commitment to help ordinary members of the public and enterprises to understand and trade cryptocurrency.”

Moreover, CEO of BitPrime, Ross Carter-Bown has said:

“BitPrime’s systems are designed to process orders quickly, while our team of experts are available to give individualised service to larger orders and cater to specific customer needs, the partnership with NEM.io Foundation will help a spectrum of our clients, from the beginners who want to start purchasing their first cryptocurrency to technology firms who want to.”

You can see the full post on Medium, for yourself, here- https://medium.com/nem-anz/partnership-announcement-nem-io-foundation-new-zealand-has-partnered-with-bitprime-40bd069c73be

Overall, it is pretty clear that this partnership boasts great advantages for both NEM and for BitPrime. By expanding operations into New Zealand, NEM are going to see an increase in trading activity and moreover, an increase in the popularity of the currency. Granted, BitPrime’s 9,000 user base is hardly a colossal customer base, however it is important to note that BitPrime is growing. As the popularity of cryptocurrencies grow, BitPrime will too, NEM, as a result of this partnership, will now be an integral part of that.

This is to be paired up with a big airdrop event, suggesting that NEM have something further to announce, the BitPrime saga seems to only just be beginning here. Whilst we have no official date set just yet, according to NEM, this will take place as a part of a launch event in June 2018, this is set to make the partnership official, and will facilitate an “additional special announcement too”.

Our advice? Keep your eyes on NEM, we’ve got a feeling that something interesting is going to happen here.


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