Two well-known crypto exchanges, KuCoin and Poloniex, have teamed up in order to do proper research of the crypto industry. It is believed that this partnership will take the crypto industry forward. It is revealed that jointly, both these firms will be working towards liquidity sharing, PoS and PoW mining pools, research and development of the technology, and many other things.
Both KuCoin and Poloniex believe that instead of competing against each other in the same industry, one should work together. The crypto exchanges aim to take the crypto industry further with their partnership.
Decision of KuCoin For This Partnership Will Help Both Firms
This decision of KuCoin regarding this partnership will prove beneficial for both the firms as both will be using their strengths to lift each other. Johnny Lyu, CEO of KuCoin, has said that a lot of complexities have been going due to which investors are looking for some balance. He added, “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.”
Partnership will be seen as remarkable milestone
Lyu has said that with this partnership, both the firms will be taking advantage of all the opportunities in the crypto and blockchain industry. He believes that in the next five years, this partnership between KuCoin and Poloniex will be seen as a remarkable one in the crypto industry.
Shelley Wu, Vice President at Poloniex, talked about the competitive nature, which is currently there in the industry. She believes that rather than putting efforts individually, the firms should work together in a partnership when their goals are the same. Through this, the strength and capabilities of different organisations will meet together that will ultimately lead to a better future for the organisations, as well as, the sector in which they are working.