Crypto exchanges Poloniex and KuCoin are set to research the crypto industry together, hope to benefit the whole sector.
Crypto exchange KuCoin has unveiled dealings with another exchange, Poloniex, in an effort to move the crypto industry forward.
Together, Poloniex and KuCoin aim to help the crypto industry progress as a whole, instead of competing against each other within the sector, the statement detailed. Joint initiatives for the pair include forming a research entity, as well as other unspecified endeavors.
The collaboration aids the two companies in taking advantage of opportunities held in the burgeoning crypto and blockchain industry, Lyu explained. “I believe, when we look back in five years, the strategic partnership between KuCoin and Poloniex would be viewed as a remarkable milestone of the digital assets industry,” he boldly added.
Shelley Wu, vice president of global business and marketing for Poloniex, described a competitive nature within the crypto industry. She proposed a different approach, using the Poloniex and KuCoin partnership as an example, which includes joint efforts in pursuit of common goals.
Back in March, KuCoin shifted its leadership, making Lyu CEO, while making then-CEO Michael Gan the chairman of the exchange’s overwatch entity, KuGroup.