EMURGO, a founding entity of the Cardano blockchain, has formed a new strategic relationship with the trading platform GSR, to expand the use of the network.
With the new solutions, the goal will be to involve a greater number of developers, companies, users, and other stakeholders.
Summary
EMURGO together with the crypto trading platform GSR to increase the adoption of the Cardano blockchain
EMURGO, a founding entity of the Cardano blockchain, has announced its new strategic relationship with the crypto trading platform GSR. The goal is to expand the Cardano ecosystem, involving a greater number of developers, companies, users, and other stakeholders.
“We are excited to announce our next step in supporting the expansion of the Cardano ecosystem through a strategic relationship with @GSR_io, the first cryptocurrency market maker to receive a license for digital payment token services from the Monetary Authority of Singapore (MAS). GSR’s suite of services will provide deeper liquidity within the Cardano ecosystem. EMURGO and GSR will also collaborate on joint education initiatives on Cardano and identify opportunities to further support projects looking to build products and services on Cardano.”
With GSR, we mean the Singapore branch holding a license for the Digital Payment Token Service. This is the first license granted directly by the Monetary Authority of Singapore (MAS) to a digital asset market maker.
On the other hand, there is EMURGO which has always been committed to increasing the commercial adoption of the Cardano blockchain.
Basically, with this strategic partnership, EMURGO and GSR aim to achieve the following points:
- provide liquidity provision and market-making deeper within the Cardano ecosystem;
- Identify investment opportunities in Cardano projects;
- Increasing the interoperability of Cardano project users;
- Promote jointly initiatives related to Cardano’s education.
EMURGO and GSR crypto-trading company: the next phase of growth for the Cardano blockchain
GSR and its suite of services, as well as its consolidated experience as one of the major market makers in the cryptocurrency space, will be made available to support the next phase of growth of Cardano.
The one saying it is CJ Fong, Head of EMEA Business Development at GSR, who commented as follows:
“GSR is excited to work with the EMURGO team that continues to expand its own ecosystem. We look forward to supporting the next phase of growth through unique investment opportunities and educational initiatives within the Cardano community”.
Even Ken Kodama, CEO of EMURGO, commented on the new strategic partnership:
“EMURGO is excited to collaborate with GSR and leverage its established expertise as one of the leading market makers in the cryptocurrency space to support the growing Cardano ecosystem. The wealth of experience, expertise, and deep resources of GSR will enable Cardano builders and projects to develop and scale their Web3 products to potential Web3 users, while also promoting an even stronger Cardano ecosystem in the future.”
EMURGO is involved with Cardano since September 2021, when the two separate entities of investment vehicles of EMURGO Africa and EMURGO Ventures were established.
Specifically, EMURGO Africa aims to support regional startups through seed financing and incubation, so that the Cardano blockchain is adopted in Africa as solutions for social impact.
The second, EMURGO Ventures, instead, focuses on developed markets, with the task of providing funding to innovative companies that involve Cardano in the development of their products.
The price of the ADA crypto
And speaking of the Cardano ecosystem, it is necessary to take a look at the price trend of its native crypto ADA.
At the time of writing, ADA is worth 0.45$, in a dump compared to its annual price peak of 0.77$ reached at the beginning of March this year.
Yet, ADA is currently in 10th place in the overall ranking, with 16.2 billion dollars in market capitalization. Moreover, in the last 24 hours, the trading volume of ADA has increased by +53%.
