South Korean blockchain company ICON announced on Wednesday that it is partnering with Chain Partners.
The deal will see the two financial technology companies join forces to work together on a number of different projects.
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In a statement, ICON said that it would be discussing the listing of its own cryptocurrency – ICX – on Chain Partners’ cryptocurrency exchange.
Developer apps (Dapps), which are designed for the ICON blockchain, may also be listed on that exchange as a result of the partnership.
Called DAYBIT, Chain Partners’ cryptocurrency exchange was built on the elixir blockchain. The financial technology company says that, because of that, it is able to rapidly complete a large number of transactions – something many other blockchains have struggled to do.
OTC and payments
Aside from its cryptocurrency exchange, Chain Partners will also be trading ICX and ICON Dapp tokens via its over-the-counter trading desk.
ICON claims that, by using this service, it will greatly improve the liquidity of its own tokens, as well as any Dapps built on its blockchain.
Lastly, the deal between the two companies could see South Koreans being able to pay for goods and services with ICX.
That’s because Chain Partners also operates a cryptocurrency payments solution called Coinduck. The technology firm will be integrating ICX into that payment solution, allowing anyone that uses it to transact in ICX.
“This partnership is the first step towards cooperating with Chain Partners to take the lead in creating a healthy blockchain ecosystem beyond the vitalization of the ICON’s DApp ecosystem,” said Min Kim, a council member of the ICON Foundation.
“ICON will expand the cooperation with Chain Partners, which is becoming a global blockchain fintech company, to various sectors in the future.”