Cryptocurrency exchanges and crowdfunding launchpads, ChainX and Exmarket have signed a 1-year Memorandum of Understanding (MoU) to explore the blockchain market in Korea and Europe. 

Cryptocurrency trading is a hot trend, and there are hundreds of crypto exchanges out there in the market that facilitate crypto trading. However, not many actually provide an all-round offering that includes a robust technical architecture, top-class trading tools, 24/7 customer support, enough liquidity, and most importantly a reasonable trading fee for traders to make enough profits. 

Having said that ChainX and Exmarket are two such firms that have addressed all of the above issues. They have come up as two of the most prominent cryptocurrency exchanges and crowdfunding launchpads as of date. According to the latest reports, ChainX and Exmarkets have partnered up through a Memorandum of Understanding in a mutually beneficial collaboration. 

About ChainX

Based out of Korea, ChainX is one of the leading cryptocurrency exchanges in the world, originally founded in 2019. Known for its unique technical architecture that supports low trading fees and high liquidity, ChainX offers a wide number of trading pairs. It also acts as a crowdfunding launchpad and has already partnered with a number of projects like BCash, CryptoDiffer, MetaBlock, etc. 

About Exmarket

Exmarket is a British cryptocurrency exchange founded in 2018 that is also well-known for its deep liquidity. Similar to ChainX, Exmarket acts as a crowdfunding launchpad for many blockchain-based projects. Interestingly, the platform acts as a data aggregator for external exchanges and displays accurate information to enhance trade efficiency for users. 

ChainX and Exmarket signs an MoU

ChainX and Exmarket have recently partnered with each other through a Memorandum of Understanding to mutually harness the benefits of the growing blockchain industry in Europe and Korea.  

As a part of this MoU, ChainX, and Exmarket will follow a mutually decided-upon common strategy to better understand the blockchain market in Korea as well as in all European countries and thus create future investment opportunities for both the companies.

A few of the important aspects of the potential working relationship between ChainX and Exmarket include –  sharing market strategies, developing and aligning connections with blockchain companies in Europe and Korea, networking activities, creating expansion opportunities through third-party integrations, etc. 

Summing Up

Both parties had signed the MoU on the 6th of May, 2020, and it will remain valid for a period of 12 months. So, the MoU between ChainX and Exmarket will essentially terminate on the 6th of May 2021. Interestingly, the partnership has no provision for auto-renewal. O1nce terminated after 12 months, both parties will review the progress in terms of goals set and targets achieved before deciding to extend the MoU. 

Both companies a substantial user base in their respective territories, and it is fair to say that the latest partnership is one of the most prominent collaborations in the crypto space.