Will list ULTRA (UOS) as first act of cooperation
SINGAPORE - 18 November 2019 - The cryptocurrency exchanges Bitrue and Coinone have today announced a joint partnership in which both exchanges will work together to share technology and assist each other in global growth operations. This relationship offers a road for both exchanges to leverage each other’s core system capabilities and integrate together for increased efficiencies.
Exchange partnerships are set to become increasingly popular in 2020 and beyond as it allows for exchanges to share customer bases and technological resources, for customers to access a wider variety of coin pairings and liquidity pools, and for coin projects to list on multiple exchanges with a single pitch. Partnerships between exchanges were attempted in the industry as early as 2017, but previous attempts never came to fruition.
“We’ve already had great success in the English speaking and Southeast Asian markets, surpassing over 1 million users, and now by partnering with Coinone we hope to strengthen our presence within Korea, which we view as a key strategic location,” said Chris Wang, CEO of Bitrue. “Coinone is already one of the Top 3 exchanges in the Korean market, so we are thrilled to work together with them in a way that will allow all the coin projects on our exchanges to reach wider audiences.”
"Since we believe it is very important to meet good partners for sustainable growth, this cooperation with Bitrue has very important significance for us to grow one step further." said Kevin Cha, CEO of Coinone. "We will prove the value of the technology possessed by Coinone, and furthermore strive together with Bitrue so that the synergy between the two companies can spread the positive influence on the global cryptocurrency market." He added.
Coin projects currently face a huge challenge getting listed on multiple exchanges, which often have burdensome application requirements, high listing fees, and lengthy pipelines. Exchange alliances will allow them to make a single pitch in order to be listed on numerous exchanges at once, saving time and effort.
Bitrue and Coinone have been developing this agreement for the past 3 months. Both companies share similar values, have only been accepting strong projects on their exchanges, and take a very stringent approach to maintaining the security of their respective exchanges. In the future Bitrue and Coinone will cooperate to list Bitrue’s own platform token, BTR, on the Coinone exchange.
Curis Wang continued, “We’re thrilled to be working together with Coinone who share our outlook and are collaborating with us to mutually grow and expand in this industry together.”
Bitrue and Coinone are working on a resource-sharing system in which they will co-develop infrastructure and features to improve the liquidity, listings, and security of both exchanges. The co-listing of ULTRA (UOS) token will be the first step in the alignment of their strategic interests.
ULTRA was deemed the perfect candidate for such an endeavor as the project’s strong use case and global ambition match Bitrue’s and Coinone’s respective expansion plans. The video game market is one of the fastest growing industries internationally and is already bigger than the music and film industries combined. We believe that this industry is key for blockchain adoption. Ultra’s future user base intersects well with the Korean, Southeast Asian, and English speaking markets, which are served by Coinone and Bitrue. Ultra recognizes the strength of Bitrue in the English speaking and SEA markets, as well as the influence that Coinone has in Korea after achieving a 2018 total trading volume of USD 38Bn, and eagerly anticipates their listing on Bitrue on November 15 and Coinone on November 19.
About Bitrue
Bitrue is a growing cryptocurrency exchange and digital asset management service that is disrupting the industry by adapting traditional financial services to the newly emerging crypto markets. Launched in July 2018, Bitrue offers worldwide services to cryptocurrency investors with offices across the globe. Bitrue has a close relationship with Ripple, with whom they share a vision regarding the potential of crypto assets, and has become one of the top exchanges within the XRP community. They now support over 50 XRP pairs and have become one of the top 5 exchanges globally ranked by XRP volume, owing to significant market share in English speaking markets and SEA. Bitrue is backed by strong communities and is quickly becoming the one-stop platform for crypto traders around the world with its latest addition of fiat purchases.
More information can be found at https://www.bitrue.com.
About Coinone
Coinone, “Bringing Blockchain into the World”
Coinone, as a specialized company exploring new areas in blockchain, is aiming to make the challenging aspects of finance easier and convenient based on its blockchain expertise. Coinone, launched in October 2014, is engaged in the business of blockchain-related financial services such as overseas remittance, trading matching engines, and node operations. Under the mission to bring blockchain to be permeated into the world, Coinone continues its journey to becoming a leading blockchain-based comprehensive financial service company in the cryptocurrency and blockchain industry.
More information can be found at https://coinone.co.kr/.
About ULTRA
Ultra is a games distribution platform which offers players the first ecosystem that aggregates all of their gaming activities in one place, such as buying, reselling and playing games, access to live-streaming platforms, tournaments, reviews and contests, as well as interacting in their favourite communities and with their favourite brands.
Using blockchain-based technology, Ultra allows for innovative business customizations that offer a whole new set of income opportunities set to developers as well.
More information can be found at https://ultra.io.