EMURGO, the trading arm of the Cardano blockchain, has formed a strategic alliance with GSR, a leading global cryptocurrency trading company. This partnership goals strengthen the ecosystem infrastructure by leveraging GSR’s expertise in market liquidity and financial services.
How the partnership will boost Cardano
EMURGO, established in 2015, plays a vital role in the adoption and implementation of the Cardano blockchain. The collaboration with GSR aims to address several key areas within the network.
First, GSR will bring its extensive market-making experience to provide greater liquidity for Cardano’s native token and other Cardano-based digital assets. The move is expected to reduce slippage and improve transaction efficiency on decentralized exchanges operating within the Cardano ecosystem.
The partnership will detect and support burgeoning projects through venture capital investments within the network, aimed at fueling innovative developments and accelerating business operations. apps built on Cardano. By improving application interoperability, the collaboration also aims to simplify user interactions and integrate services into the blockchain, thereby broadening user engagement and adoption.
Additionally, both entities are committed to advancing blockchain knowledge through joint educational programs focused on ADA technology, which will aim to attract more developers and businesses to the ecosystem.
Ken Kodama, CEO of EMURGO, highlighted the strategic benefits of the alliance, stating: “EMURGO is excited to work with GSR and utilize its established experience as one of the largest market makers in the crypto space to support the growing ecosystem. The wealth of GSR experienceThe deep expertise and resources will enable builders and projects to develop and scale their Web3 products to potential Web3 users while fostering an even more robust Cardano ecosystem in the future.
Echoing this sentiment, CJ Fong, Head of EMEA Business Development at GSR, said: “GSR is excited to work with the EMURGO team as it continues to expand its ecosystem. We look forward to supporting the next phase of growth through unique investment opportunities and educational initiatives within the Cardano community.
This partnership also comes at a pivotal time for GSR, with its Singapore subsidiary, GSR Markets Pte. Ltd., obtaining the digital payment token service license from the Monetary Authority of Singapore (MAS). This is a notable milestone as it is the first such license granted to a digital asset market maker in the region, potentially setting a precedent for regulatory acceptance of digital asset companies in Singapore and beyond.
Cardano itself is known for its peer-reviewed research base and scientific development methodology. With a commitment to sustainability and environmental safety through its proof of participation protocol, the blockchain has successfully processed nearly 90 million transactions. The platform currently supports more than 1,350 projects, ranging from financial applications to complex decentralized applications (dApps).
At press time, ADA was trading at $0.45.
Featured image from iStock, chart from TradingView.com
