Poloniex and KuCoin announce merger

Crypto exchange KuCoin has announced a partnership with Poloniex.The purpose of the merger is to promote the crypto industryForward.

According to Cointelegraph, the joint statement of the companies says:

"KuCoin and Poloniex will join forces in research and development of trading technologies, liquidity distribution, product iterations, PoS and PoW mining pools and other research."

Together, Poloniex and KuCoin intend to helpthe crypto industry is developing as a whole, instead of competing with each other, the statement said. Joint platform initiatives include the creation of a research organization as well as other endeavors.

The statement says that KuCoin's solutionTeaming up with Poloniex helps both organizations as each will offer each other its own strengths. Johnny Liu, CEO of KuCoin Global, stated:

“Due to today's complex internationalpolitical and economic environment, global institutional and even individual investors are striving to balance systemic risk and long-term strategic returns from high quality assets. "

Shelley Wu, VP of Global Business and Marketing at Poloniex, introduced a new approach through the Poloniex-KuCoin partnership that involves working together to achieve common goals.

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