NEO and SWITCHEO on a quest for the Open Financial World to collaborate with a decentralized cryptocurrency exchange operating on its network as part of their commitment to an open and connected financial world.
NEO, a blockchain platform with an international community and a part of the Neo Foundation, has deepened its partnership with a decentralized cryptocurrency exchange SWITCHEO, an exchange that uses atomic swaps to link multiple blockchains.
This exchange is set to adopt NEO’s cross-chain protocol, which is currently in development and deepen the technical cooperation of both parties, underscoring their commitment to the smart economy of the future.
NEO plans for SWITCHEO Token (known as SWTH, for short) is to redeem them for GAS tokens which will be achieved through a brand-new SWFT/GAS trading pair on Switcheo’s exchange. This will enable those who use the decentralized platform to pay their fees using GAS tokens if they so wish.
The founder of NEO, Da Hongfei, said:
NEO and SWITCHEO are aligned in their vision of supporting an open community that builds upon the decentralized ethos of blockchain technology.
SWITCHEO CEO, Ivan Poon also added:
We are delighted to announce this timely partnership as it is an exciting time for Switcheo with several new projects in the pipeline. With Neo’s support, this strategic partnership will further strengthen the Neo community and set the stage for Switcheo’s up-and-coming decentralized finance products.
SWITCHEO aims to deliver a secure multi-chain trading experience that enables users to connect and trade freely without the usual mandatory registration process. SWITCHEO is available on the Ethereum and EOS blockchains
Also on the quest for the Open Financial World have facilitated comprehensive support to promising developers throughout their life cycle. It has also provided funding support and marketing and technical support to empower projects while advancing toward NEO’s goal of building a smart economy.
Although Neo EcoBoost (a program that provides full life-
Ecosystem strength is becoming one of the most important factors in determining a public blockchain’s position in a very dynamic and competitive landscape.
Both founders showed their interest in developing a stable coin as part of NEO’s roadmap, and Da Hongfei (NEO’s Founder) believes that decentralized finance has the potential to help the economy move away from the inflationary world of fiat — and make life better for everyday consumers. He also believes that smart contracts will pave the way for people to get loans automatically based on their personal assets or future income without having to go through the long application process in the bank.
With this partnership from the two blockchain giant, you’d agree with us that we would soon be leaving in world dominated by blockchain users as myriads of Tech giants are starting to embrace the digital money – cryptocurrency.
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