Gate.io-Aquanow deal to facilitate ‘access to crypto markets’
By Andrei Skvarsky.
Gate.io, one of world’s top-ranking cryptocurrency exchanges, has entered into a partnership with digital assets infrastructure provider Aquanow with the aim of building up liquidity in global crypto markets in anticipation of new blockchain projects.
The deal “will help increase access to crypto markets”, a statement from Aquanow quoted the company’s chief executive, Phil Sham, as saying.
Gate.io, which says it has more than 13m customers worldwide trading more than 1,700 cryptocurrencies with nearly $5bn passing through its system daily, argued in a statement that its collaboration with Aquanow would mean opportunities for facilitating the adoption of the latest blockchain technology by crypto users.
The statement quoted the exchange’s founder and chief executive, Lin Han, as saying the alliance “is set to play a critical role in bridging the traditional and digital currency markets”.
Gate.io has been ranked among the world’s top 10 crypto exchanges by Reuters and various fintech media outlets. Various sources put the total number of crypto exchanges in the world at between 500 and more than 600 but some say that are over 1,500.
Gate.io was founded in China but today is based in Cayman Islands.
Aquanow, which is headquartered in Vancouver, Canada, acts as a crypto trading facilitator for institutional customers. It says it operates in more than 50 countries. According to Deloitte, for the period from 2019 to 2022 it had revenues that showed a growth of 1,842 per cent.
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