Cardano (ADA) is actively seeking advancements in the blockchain industry and has recently announced a partnership with GSR, a global cryptocurrency trading company. This collaboration aims to further strengthen innovation, a highly valued aspect in the Cardano ecosystem.
EMURGO, a technology company that promotes commercial adoption of the Cardano blockchain, revealed the strategic relationship with GSR in an official statement. Through this partnership, EMURGO will work towards bringing GSR’s suite of services to the Cardano ecosystem. The objectives include providing deeper liquidity provisioning and market making, identifying investment opportunities in Cardano projects, enhancing user interoperability, and jointly promoting Cardano education initiatives.
These activities will not only support the expansion of the Cardano ecosystem but also increase the visibility of Cardano as a blockchain platform, attracting more developers, enterprises, users, and stakeholders.
It is important to note that GSR’s subsidiary in Singapore, GSR Markets Pte. (GSR Singapore), has obtained a Digital Payment Token Service license from the Monetary Authority of Singapore (MAS). This license is significant as it is the first one granted to a digital asset market maker.
Ken Kodama, CEO of EMURGO, expressed excitement about working with GSR, leveraging their experience as one of the largest market makers in the crypto space. He believes that GSR’s resources and expertise will enable Cardano builders and projects to develop and scale their Web3 products, ultimately contributing to a more robust Cardano ecosystem.
As of now, the price of Cardano (ADA) is at US$0.4513, experiencing a 1.6% decrease over the past 24 hours.
Disclaimer: The opinions expressed in this article are for informational purposes only and do not constitute financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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