Collaboration is part of the expansion strategy of businesses. This is a trend for a good reason. Sharing resources is really the most effective approach to advance. Poloniex is a new platform to be a part of this ecosystem. It has announced a strategic partnership with Huobi to gain an edge in the expansion process across the globe.
The strategic partnership is effective as of December 2022. Huobi and Poloniex will now work together on multiple fronts, including, but not limited to:-
- Project cooperation
- Ecosystem expansion
- Liquidity support
- Global compliance
The belief in developing a world-class trading platform for users is what binds both businesses together. It is anticipated to have a seamless integration of all the tools required for daylong trading.
Projects by Poloniex will be under the spotlight as well. In accordance with the rules of the strategic partnership, Poloniex and Huobi will evaluate the initiatives each month. Projects that have the potential for growth and/or make a significant difference will be accepted into Huobi’s platform.
A launch on Huobi will enable projects to access a list of millions of users in addition to receiving support from Huobi and Poloniex. The deal is worth pursuing if the talent pool is large enough to support the project and its potential.
Poloniex announced the development on its website, noting that the company will continue to pursue further partnerships in the coming days. Collaborations will continue along the same path, involving the formation of strategic partnerships with industry leaders.
Founded in 2014, Poloniex is headquartered in Wilmington and lists over 200 cryptocurrencies. Additionally, users have access to a large selection of trading pairs to create a customized portfolio.
Poloniex is a part of an ecosystem where several crypto exchange platforms reside. The part where it makes the difference is in the trading fees, which are some of the lowest in the market. Plus, Poloniex allows users to access different payment methods like debit or credit card and crypto transfers.
Huobi is a year older than Poloniex. It was founded in 2013 and has its headquarters in Seychelles. Even though the platform does not actively support fiat currencies, users can still add as many cryptocurrencies to their portfolios as they choose. With a few exceptions, its operations are functional worldwide, subject to regulatory approvals.
Users must deposit a minimum of $100 or the equivalent in the local currency. In exchange for their payments, Huobi provides users with insurance. The navigation and functionalities of the user interface are rather simple. Users are treated with easy-to-read price feeds and charting tools.
Security measures on both platforms are robust, making them a perfect fit for their strategic partnership. The long-term goal is to bring the best trading platform to the market. This also serves as a pillar of their partnership infrastructure.