Cryptocurrency exchanges Poloniex and KuCoin have formed a strategic partnership to explore and develop the industry.
We are thrilled to announce our strategic partnership with @Poloniex#KuCoin and #Poloniex will join hands in technology research and development, liquidity sharing, product iterations, PoS and PoW mining pools, and other industrial explorations
Details: https://t.co/7DXBfI0mjs pic.twitter.com/QhzXpeSXU0
— KUCOIN (@kucoincom) September 18, 2020
“KuCoin and Poloniex will unite technologies in trading, liquidity sharing, and mining,” the statement said.
The initiative also envisages the creation of a research organisation.
Representatives of the platforms note that the collaboration will help them maximise the opportunities of the cryptography and blockchain industry.
“The challenging international political and economic situation is forcing institutional and individual investors to seek opportunities to rebalance systemic risks and to secure long-term strategic profits from high-quality assets,” said Johnny Lyu, CEO of KuCoin Global.
In February 2018, the bitcoin startup Circle acquired Poloniex for reportedly $400 million.
In October 2019, the exchange announced its separation from the parent company and the creation of the new firm Polo Digital Assets, Ltd.
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