On May 7, 2024, EMURGO announced a partnership with GSR, enhancing the Cardano ecosystem by improving liquidity, identifying investment opportunities, enhancing user interoperability, and promoting education.
Discover how this strategic collaboration aims to elevate Cardano’s platform to new heights.
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Partnership Announced with Global Cryptocurrency Trading Firm GSR
On May 7, 2024, EMURGO, the official commercial arm of the Cardano (ADA) ecosystem, announced a new partnership with GSR, a global cryptocurrency trading and liquidity provider.
Founded in 2013, GSR brings over a decade of experience in over-the-counter trading, derivatives, and market making. They have also established partnerships with token issuers, institutional investors, miners, and leading exchanges.
Furthermore, GSR's subsidiary in Singapore, "GSR Markets," has become the first digital asset market maker to receive a Digital Payment Token Service (DPT) license from the Monetary Authority of Singapore (MAS).
The DPT license allows companies to engage in the buying and selling of "digital payment tokens," a term used for cryptocurrencies in Singapore, and is also a requisite license for exchanges operating there.
Collaboration to Enhance Liquidity, Investment, Interoperability, and Education
The partnership aims to strengthen the Cardano blockchain ecosystem by linking GSR's services with the Cardano ecosystem to achieve the following:
- Enhance liquidity within the Cardano ecosystem through market making.
- Identify venture investment opportunities in Cardano projects.
- Improve interoperability among users within the Cardano projects.
- Jointly promote educational initiatives related to Cardano.
These efforts are expected to support the continuous growth of the Cardano ecosystem, encouraging participation from developers, businesses, users, and other stakeholders, and further enhance Cardano’s recognition as a leading blockchain platform.
EMURGO's CEO, Ken Kodama, and GSR's EMEA (Europe, Middle East, and Africa) Business Development Director, CJ Fong, have commented on the partnership, highlighting its significance.
EMURGO is excited to work with GSR and utilize its established track record as one of the largest market makers in the crypto space to support the growing Cardano ecosystem.
GSR’s wealth of experience, expertise, and deep resources will enable Cardano builders and projects to develop and scale their Web3 products to potential Web3 users while fostering an even more robust Cardano ecosystem moving forward.
EMURGO's CEO: Ken Kodama
GSR is thrilled to be working with the EMURGO team as they continue to expand their ecosystem.
We look forward to supporting the next phase of growth through unique investment opportunities and education initiatives within the Cardano community.
GSR: CJ Fong
EMURGO and the Cardano Foundation have recently expanded their partnerships rapidly, including a significant collaboration with Huawei’s cloud service, "Huawei Cloud."
>> Click here for the latest Cardano related news.
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