SINGAPORE, March 8, 2022 /PRNewswire/ -- Bit.com, the leading high-performance crypto exchange, has announced an industry-first strategic partnership with TON (The Open Network) to develop, enhance and expand the TON ecosystem.
As part of the collaboration, TON's native token custody will be supported by Cactus Custody™, the third-party institutional custody service provided by Matrixport, by the end of March 2022. The partnership will also explore the inclusion of TON's native token in crypto-financial services offerings on Matrixport's platform, as well as bit.com's upcoming savings product.
"TON's heritage and roadmap coupled with its performance has given us confidence in its immense potential. We expect our users to recognise its value and embrace it. Bit.com and Matrixport provide a wide range of innovative products, trading and asset management tools that will accelerate the growth of the TON ecosystem. We are delighted to work with TON and look forward to contributing to its community as we integrate TON into our various products," noted Toya Zhang, Chief Marketing Officer of bit.com.
"Matrixport is the first world's leading CeFi platform to offer a variety of institutional-grade services that are vital to the TON ecosystem. Custody and escrow solutions and innovative asset management products provide great value for institutions and retails alike. We are excited about Matrixport and Bit.com's support," added Steve Yun, Founding Member of TON Foundation.
Bit.com listed TON in January 2022 and supports transactions using the TON native token on its platform. Matrixport also supports swaps of the TON native token to USDT or USDC. As a leading high-performance crypto exchange, Bit.com expects to establish similar partnerships with emerging high-quality projects in the near future.
Bit.com is a full-suite cryptocurrency exchange launched by Matrixport, an integrated financial services firm headquartered in Singapore. Since August 2020, bit.com has been online supporting the perpetual, futures, and options products of BTC, ETH, and BCH, with a particular highlight being pioneers to launch BCH options. Trading volume-wise, bit.com is the second-largest in the BTC and ETH options market.
Bit.com is part of the Matrixport family and the burgeoning crypto finance space. Bit.com is committed to providing price discovery, trading strategy execution, and liquidity provision services while constantly driving financial product innovation, listing selective tokens for our users.
TON is a third-generation proof-of-stake blockchain designed in 2018 by the Durov brothers, the founders of Telegram Messenger. Later, it was handed over to the open TON Community, which has been supporting and developing it ever since. TON was designed for lightning-fast transactions, and it's ultra-cheap, user-friendly, and fully operational.