Singapore headquartered crypto exchange and technology company QUOINE just announed today they’ve entered into a strategic partnership with Bitfinex, a Hong Kong based cryptocurrency exchange, to improve liquidity across fragmented cryptocurrency and blockchain asset markets. A key feature of the partnership is that Bitfinex will support the QASH Token Sale by listing the QASH token at a later date once the ICO is concluded.
After Initial Coin Offerings (ICOs), token issuers require liquidity to foster adoption, project financing, and price discovery. As the ICO market continues its rapid upward trajectory — an indication that ICOs could be a mainstream method of raising funds in the near future — this need for liquidity will increase. The QUOINE-Bitfinex strategic partnership will strengthen the QUOINE LIQUID platform. The platform seeks to provide and attract liquidity to address the needs of businesses and their stakeholders. It will also provide more choices for Bitfinex customers with a new token, QASH, issued by QUOINE to transact at lower rates on the QUOINE LIQUID platform.
Mike Kayamori, CEO and Co-founder of QUOINE, said:
“Bitfinex is one of the largest cryptocurrency exchanges globally, and we have built a long-standing partnership of trust with them over a long period of time. We are pleased to work with Bitfinex and we share a common vision to build a more liquid crypto economy. Each cryptocurrency exchange is not a rival, but a partner to contribute to a more liquid crypto world.”
Recognizing the market need to build a global liquidity platform efficiently at scale, QUOINE is also pursuing the same path as other token issuers to fund growth of the QUOINE LIQUID platform. QUOINE will be the first licensed global cryptocurrency exchange in Japan to launch a global ICO, also known as the QASH Token Sale. QUOINE’s Japanese entity, QUOINE Corporation, officially received its license from the Japan Financial Services Agency last month.
JL van der Velde, CEO of Bitfinex, said:
“We are excited for the promise of this strategic alliance. We have a long-standing relationship with QUOINE and think that they are well-placed to become a global player in this space. QASH is a very interesting token and, when listed, it will give our customers additional optionality and deepen our liquidity.