- KuCoin, one of the more well-known crypto platforms in the industry, has just released details that it is going to be collaborating with Poloniex in order to help move the industry forward for the greater good.
- In a statement provided to CoinTelegraph, some of the details were released on the partnership.
KuCoin, one of the more well-known crypto platforms in the industry, has just released details that it is going to be collaborating with Poloniex in order to help move the industry forward for the greater good.
In a statement provided to CoinTelegraph, some of the details were released on the partnership.
"KuCoin and Poloniex will join hands in trading technology research and development, liquidity sharing, product iterations, PoS [proof-of-stake] and PoW [proof-of-work] mining pools, and other industrial exploration,"
Both of the platforms will aim to help cryptocurrency and the overall industry in progressing as a whole rather than competing against each other within the industry. According to the statement, joint initiatives for the two exchanges also include a research entity being created as well as other endeavours which have yet to be confirmed.
The decision for the two platforms to team up will help both parties involved. In the statement, the CEO of KuCoin Global, Johnny Lyu said the following:
"Due to the complexity of today's international political and economic situation, global institutional and even individual investors are seeking to balance the new systemic risk and long-term strategic returns of high-quality assets.
Decentralized digital assets that are neither endorsed nor supported by sovereign credit are rapidly becoming one of the world's most popular quality investing targets."
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!
