Cryptocurrency exchange, KuCoin has signed a strategic joint venture with another cryptocurrency exchange named Bitsonic.
KuCoin announced its partnership with Bitsonic via its official blog. The post read: “We’re pleased to announce that KuCoin reached a strategic partnership with the cryptocurrency exchange Bitsonic.”
Besides, the partnership between Bitsonic and KuCoin reportedly focus on liquidity sharing. Accordingly, the companies want to use the agreement as a medium to launch a broad global alliance with the opening of the linked market.
“The alliance between Bitsonic and KuCoin includes liquidity sharing. Also, the two companies will launch a broad global alliance with the opening of the linked market,” the post revealed. However, it remains to be seen how much impact the partnership ends up producing.
What to know about Bitsonic?
Bitsonic started operations in April 2018. The centralized exchange, headquartered in South Korea also supports KRW fiat pairs.
The exchange shares trading fee revenue with BSC holders, its native exchange coin. Using the BSC coin, investors reportedly get the opportunity to stake or un-stake the coin and manually select between rewards and liquidity.
Besides, Bitsonic exchange operates as a subsidiary of Skoopmedia. The exchange claims its vision aims at offering a one-stop cryptocurrency trading platform that offers services such as a token sale. As well as, C2C, and BSC League.
Additionally, Bitsonic reportedly offers a huge selection of altcoins. The exchange’s integrated with the Binance API (BTC, ETH Market). Thus, enabling investors to trade coins offered by Binance as well.
At the moment, Bitsonic reportedly offers about 146 cryptocurrencies and claims to list over 600 coins in the near future. The exchange reportedly plans to create two types of markets, the main market, and a second market. The criteria for categorizing is the volume of transactions, and when the volume’s met, there’s a new entry into the main market.
The system’s likened to an elevator. Then, the second part market consists of a structure that’s capable of explosive growth with high commission, that’s a 2-way strategy.
Notably, the CEO of Bitsonic, Shin Jin-wook involves in various projects related to Bitcoin. He worked already worked on applications like Delivery Nation, Socar, Mimi Box, Me2day, Naver Webtoon, and Wingspoon.
To remind, KuCoin added support for V-ID (VIDT). The token reportedly makes use of 5 blockchains to solve the issues with digital file protection and validation, aiming to certify and secure all digital assets.