One of World’s largest Cryptocurrency Exchange OKEx announced a “Strategic Partnership” with one of India’s largest Cryptocurrency Exchange Bitbns on twitter. The cryptic post reveals no details about it.
Technical and Marketing collaboration
The partnership between the exchanges is said to be both technical and marketing related. Both exchanges will share technology in order to help make a better product. A unique feature on one exchange can then be easily implemented on another. For instance OKEx can look for Bitbns’s technology to implement a Peer to peer exchange while Bitbns can look at OKEx’s features like Piggybank. This will save time and resources for creating it from scratch.
Both exchanges will also be working together to launch marketing campaigns like referrals, awards, etc to leverage users of the other exchanges.
Although, one may expect, there is no word on whether Bitbns and OKEx will enter a liquidity sharing partnership yet. Bitbns predominately being an INR based exchange, while OKEx being a Crypto to Crypto exchange, a liquidity sharing model can only work if Bitbns were to introduce a lot more Crypto to Crypto pairs.
It won’t be a surprise to see OKB and USDK token listed on Bitbns, earlier OKEx partnered with Bitfinex to list each other’s native coins on the respective exchanges. The partnerships between exchanges can help boost user registration and growth.
India, being the second largest country in the world and carrying one of the Highest percentage of internet users, is a huge slice of pie for crypto businesses to cut in.
Will this help grow the user base for both exchange, let us know what you think in the comment section below!