EMURGO and GSR partnership strengthens Cardano’s ecosystem with liquidity and market-making support.
GSR’s approval for a Digital Payment Token Service license from MAS underscores its credibility.
The collaboration aims to attract developers and enterprises to Cardano while enhancing educational programs.
A strategic partnership was recently formed between Japan-based blockchain company EMURGO and global cryptocurrency trading firm GSR. The partnership will develop the Cardano blockchain ecosystem by offering more liquidity, improved market-making capabilities, and better integration between Cardano projects. EMURGO is looking to leverage a wide range of GSR’s services to strengthen venture investment opportunities within the Cardano network and educational programs.
Boosting Cardano’s Ecosystem Development
EMURGO, a founding entity of Cardano, is looking to develop a stronger Web3 system. GSR, a major participant in digital asset markets, will offer liquidity provisioning and market-making support for projects on Cardano. The partnership aims to attract more developers, enterprises, and users to the Cardano blockchain and, in turn, diversify its ecosystem.
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
GSR’s Singapore arm, GSR Markets Pte. Ltd., received recently had been an approval for a Digital Payment Token Service license from the Monetary Authority of Singapore (MAS) which made it the first digital asset market maker to receive such recognition.
Comments from Leadership
Chief Executive Officer of EMURGO, Ken Kodama, welcomes the partnership with GSR and emphasizes the importance of GSR’s strong market-making expertise in speeding up Cardano’s growth. He said, “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.”
CJ Fong, EMEA Business Development Head at GSR, has also expressed his enthusiasm for the collaboration, saying, “We look forward to supporting the next phase of growth through unique investment opportunities and education initiatives within the Cardano community.”
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