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Cardano Ecosystem

Blockchain Reporter

05/07/2024

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EMURGO Teams Up with GSR to Enhance Cardano Blockchain's Market Presence

In a move set to fortify the Cardano blockchain ecosystem, EMURGO, a prominent blockchain technology firm facilitating the commercial adoption of Cardano, has announced a strategic collaboration with GSR, a...

EMURGO Teams Up with GSR to Enhance Cardano Blockchain's Market Presence

In a move set to fortify the Cardano blockchain ecosystem, EMURGO, a prominent blockchain technology firm facilitating the commercial adoption of Cardano, has announced a strategic collaboration with GSR, a global cryptocurrency trading firm and liquidity provider. This partnership seeks to bolster various facets of Cardano’s growth trajectory, including liquidity provisioning, venture investments, user interoperability, and educational initiatives.

📣 We are excited to announce our next step to support the expansion of the Cardano ecosystem through a strategic relationship with @GSR_io, the first crypto market maker to receive a Digital Payment Token Service license from the Monetary Authority of Singapore (MAS).

📈 GSR’s… pic.twitter.com/JFNMsdxMmI

— EMURGO (@emurgo_io) May 7, 2024

EMURGO’s role in the collaboration is pivotal, serving as a conduit between GSR and the Cardano ecosystem. The objectives outlined for the partnership encompass enhancing liquidity provisioning and market-making activities within Cardano’s network, identifying promising venture investment opportunities within Cardano projects, fostering greater interoperability among Cardano projects, and jointly promoting educational endeavors related to Cardano.

Ken Kodama, CEO of EMURGO, expressed enthusiasm about the partnership, stating, “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.”

Driving Cardano’s Future

GSR, through its Singapore subsidiary, GSR Markets Pte. Ltd., has also achieved a significant milestone by securing a Digital Payment Token Service license from the Monetary Authority of Singapore (MAS), becoming the first digital asset market maker to receive such accreditation. This regulatory milestone further cements GSR’s position as a reputable player in the digital asset market.

CJ Fong, Head of EMEA Business Development at GSR, expressed optimism about the collaboration, stating, “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.”

Cardano, renowned as an open-source, peer-reviewed blockchain platform, operates on a secure proof-of-stake protocol and has garnered attention for its environmentally friendly approach. With nearly 90 million transactions processed and over 1,350 projects building applications on its platform, Cardano stands as a frontrunner in the blockchain space.

EMURGO, established in 2015 in Japan, is a foundational entity of the Cardano blockchain, driving adoption through partnerships, investments, education, and infrastructure development. GSR, boasting over a decade of digital asset market expertise, offers a suite of services including OTC trading, derivatives, and market making, making it a formidable collaborator for EMURGO in advancing the Cardano ecosystem.

The partnership between EMURGO and GSR underscores a concerted effort to bolster the Cardano blockchain’s market presence and foster its continued expansion. As both entities leverage their respective strengths and resources, the collaboration holds the promise of unlocking new opportunities and driving innovation within the Cardano community.

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