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Bithumb signs deal with US fintech firm

Nov 9, 2018 · 2 min read

South Korean cryptocurrency exchange Bithumb has signed a deal with an American fintech firm in an effort to open a securities token exchange in the US.

The agreement held with American crowdfunding platform SeriesOne.

It has been reported that “Bithumb will ramp up efforts to develop into a global financial firm as the blockchain-based asset tokenization is expected to spread globally down the road”.

SeriesOne will establish the exchange in the US during the first half of 2019, while Bithumb provides investment and the necessary technical support for operating the exchange.

Moreover, Bithumb will launch a global decentralized crypto exchange. This will be launched in partnership with blockchain firm One Root Network (RNT), which developed ab Ethereum-based decentralized token transaction protocol called R1. The R1 protocol purportedly separates order matching and execution, which RNT claims will improve security and matching efficiency.

Furthermore, a Hong Kong-based crypto exchange, revealed that it had helped Bithumb recover some tokens that were lost during a devastating hack in June. Bithumb initially lost over 30 million dollars due to the hack but managed to recover approximately 14 million dollars with the help of industry partners.

In conclusion, it can be said that these new deals will continue to grow in the next years, making blockchain technology more near to the ordinary people as well.

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