NEM has been making headlines over the past few weeks since it partnered with KeySafeBank. The Singapore based cryptocurrency has teamed up with the PAL Network in order to cooperate and support KeySafeBank. The leading third-party institutional grade custodian cryptocurrency in Singapore has been appointed by the bank to power its institutional with the help of NEM’s blockchain security solution which has been one of the best in the world.
In addition to this, KeySafeBank has signed a MoU (Memorandum of Understanding) with the PAL Network too. PAL is a two-layered network for pecuniary belongings which uses the data to connect the gap between purchasers and financial suppliers. The PAL network according to the signed MoU will pride insurance coverage for digital currencies that users will have with the KeySafeBank until it will be released.
It was also recently announced by NEM that they have signed up for a partnership pact with UAE, Ministry of Community Development. For both parties, they will be able to share important information, knowledge and updates on emerging technologies in the blockchain according to to the signed the pact.
A council member and the NEM Foundation and the Regional Head of NEM Southeast, Stephen Chia spoke on the matter and said:
“We at NEM look forward to supporting the Dubai government in their vision to be a fully-digital government by 2021, and their goal of being world’s first blockchain-powered city by 2020.”
With this partnership, NEM and MOCD will be connected with citizens of UAE. With this adoption of NEM, the public of UAE will be able to have a closer look at what blockchain is and how it impacts the technical world. In addition to this, with these two partnering up, it should satisfy the needs of the customer too.
As reported by CryptoGlobalist:
“Another NEM partnership has been with OATH Protocol which is to improve XEM’s security. This will enhance the security of NEM blockchain and will be very helpful for the users of the digital asset. This will also secure the voting system set up by the NEM blockchain and this OATH Protocol will make the voting system free and fair.”
The global adoption for NEM is seemingly increasing every day which is helping the coin perform in the market. The token is currently sat at number 15 on CoinMarketCap and is the only one currently in the green with an increase of 2.14 percent and a price of $0.07
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