Bitrabo Editorial
EMURGO, the business arm of the Cardano blockchain, has teamed up with GSR, a leading global cryptocurrency trading company, to strengthen the ecosystem. This partnership aims to enhance the ecosystem’s infrastructure by leveraging GSR’s expertise in market liquidity and financial services.
Benefits of the Partnership for Cardano
Established in 2015, EMURGO plays a vital role in promoting the adoption and utilization of the Cardano blockchain. The collaboration with GSR aims to target various essential aspects within the network.
GSR will utilize its market-making experience to increase liquidity for Cardano’s native token and other digital assets. This move is expected to enhance transaction efficiency and reduce slippage on decentralized exchanges operating within the Cardano ecosystem.
The partnership will identify and support emerging projects through venture investments within the network to drive innovative developments and speed up commercial applications on Cardano. By improving application interoperability, the collaboration aims to streamline user interactions and integrate services across the blockchain, ultimately expanding user engagement and adoption.
Additionally, both parties are dedicated to enhancing blockchain awareness through joint educational programs focused on ADA’s technology, with the goal of attracting more developers and businesses to the ecosystem.
Ken Kodama, CEO of EMURGO, emphasized the strategic advantages of the alliance, stating, “EMURGO is excited to collaborate with GSR and leverage its extensive track record as a major market maker in the crypto space to support the growing ecosystem.”
CJ Fong, Head of EMEA Business Development at GSR, expressed enthusiasm about the collaboration, highlighting GSR’s commitment to expanding the ecosystem through unique investment opportunities and educational initiatives within the Cardano community.
This partnership is significant for GSR, as its Singapore subsidiary recently secured a Digital Payment Token Service license from the Monetary Authority of Singapore (MAS), making it the first digital asset market maker in the region to receive such a license.
Cardano is renowned for its foundation in peer-reviewed research and scientific development methodology. With a focus on environmental sustainability and security through its proof-of-stake protocol, the blockchain has processed nearly 90 million transactions and currently supports over 1,350 projects, ranging from financial applications to complex decentralized applications (dApps).
As of the latest update, ADA was trading at $0.45.