KuCoin and Poloniex refuse from competition for the sake of the crypto industry

The exchanges will research the digital asset market together.

The teams of popular digital asset exchanges KuCoin and Poloniex have joined forces to develop the crypto industry. Information about this appeared on the blogs of the trading platforms.

The specialists of the exchanges will jointly research the digital asset trading market and develop new technical solutions. Including the KuCoin and Poloniex teams are interested in studying crypto derivatives, as well as PoS and PoW mining. The agreements between the parties imply certain commitments to invest in joint research. The results of the work, according to representatives of trading platforms, will stimulate the development of the crypto industry.

We are delighted to be able to enter into a strategic partnership with the KuCoin team. For a long period of time, under the yoke of competition, the digital asset exchange market was in a state of internal exhaustion. This situation is bad for the industry. The strategic partnership between Poloniex and KuCoin proves that there is not only competition in the industry, but also opportunities for mutually beneficial cooperation. The industry will benefit from bringing the industry together to move forward. The partnership can be seen as an example to follow.

-Shelley Wu, VP of global business and marketing at Poloniex

The position of exchanges in the trading volume rating based on the adjusted data of the CoinMarketCap resource

KuCoin CEO Johnny Louis, in turn, drew attention to the growing attention of market participants to digital assets. Providing potential investors with the best conditions for investing in cryptocurrencies, in his opinion, will also have a positive effect on the development of the industry.

KuCoin and Poloniex were not the first companies in the crypto industry whose teams decided to join forces for the common good of the industry. Earlier, Twitter founder Jack Dorsey urged representatives of the digital asset market to share their best practices. To do this, he formed the Cryptocurrency Open Patent Alliance (COPA).

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