Cryptoassets exchanges are becoming more popular due to the growth of digital money. The latest cryptocurrency news confirms that crypto assets are increasing the influence in the financial sector. It means that exchange platforms will be even more popular in the future, which has facilitated Poloniex and KuCoin to unite forces towards future challenges in the industry.
The issue of cryptocurrencies growing popularity is not a surprise nowadays. There are already dozens of exchange platforms, which are located all over the globe. Moreover, several states' governments have already adopted cryptoassets as a part of their financial and exchange system.
To increase the influence in the industry and be ready to challenge new obstacles, KuCoin decided to join Poloniex. Hong Kong and US-based exchange firms will share the experience they have already gained, while their influence on the global market has to increase.
What are the future development directions for cryptocurrency exchanges?
According to the brands' representatives, one of the core directions will be the development of the blockchain approaches used for digital assets. Even though the technology seems to be well-prepared for safe transactions, safe mining and trade still exist. If KuCoin or Poloniex finds the upgraded solution for this problem, their influence on the exchange market will significantly increase.
Although the competition usually facilitates growth, Poloniex and KuCoin have decided to gather their research potential into a single fist. According to the CEO of Hong Kong-based firm, Johnny Lyu, they will benefit more from the cooperation than from competition. The chairman also hopes that in a few years, both sides will feel the result of tight collaboration and change the market with new initiatives.
Read more: Ethereum or Bitcoin: what is better?
Read more: Where to invest in blockchain stocks?