On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Diginex's CEO says the partnership promotes his vision of creating a safe, reputable and conflict-free trading environment for crypto assets.
Diginex, the Singapore-based operator of the EQUOS cryptocurrency exchange, has entered into a strategic partnership with GSR Markets aimed at enhancing liquidity for its perpetual futures products and spot pairs. Notably, the partnership seeks to promote EQUOS' mandate of delivering a regulated trading experience that is free from market manipulation risks.
Under the new partnership, GSR will become a shareholder of Diginex and one of the main liquidity providers for the EQUOS exchange. GSR will provide liquidity for the recently launched Bitcoin perpetual futures product as well as several spot pairs. In the future, GSR's liquidity provision will extend to options and other structured products.
Founded in 2013, GSR is a Singapore-based market maker for digital assets. The company claims to work with more than 30 cryptocurrency exchanges globally.
The Diginex-GSR partnership is intended to strengthen EQUOS’ so-called “white hat” regulatory focus and ensure its markets have ample liquidity without the conflicts of interest that belie many other exchanges.
“One of the biggest challenges the crypto industry is currently facing is reputation,” Richard Bynworth, CEO of Diginex, tells Cointelegraph. “There have been numerous reports of exchanges providing fake volume figures, liquidity drying up during times of volatility, and market manipulation often by exchanges against their own clients.”
He explains:
“The goal of the market maker is to provide liquidity, tighten the spread across trading pairs, and encourage order book volume. The use of reputable market makers, such as GSR, allows EQUOS to step back and ensure the integrity of the market and trading on its platform.”
Bynworth claims that EQUOS is “one of only a handful of exchanges” that doesn’t make markets on its platform. This commitment avoids “the conflict of essentially trading against its own clients.”
Diginex became a publicly-traded company last year following a $50 million raise and reverse merger. The stock trades on the technology-rich Nasdaq exchange under the ticker symbol EQOS.
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