Cardano Foundation has announced a new partnership with Switzerland-based fintech firm and blockchain exchange Lykke Corp.
The partnership will feature several initiatives that will use the Foundation’s advanced blockchain technology to enhance Lykke Corp’s financial services, allowing it to offer superior fintech services and strengthen its market position.
The announcement stated that Lykke Corp is awaiting approval by the Swiss Financial Market Supervisory authority (FINMA) to increase its scope of operations and financial products.
Once granted the authorization, Cardano Foundation will provide unique market access to Lykke to push its products on the Cardano blockchain.
Similar to Cardano, Lykke Corp is making key moves to expand its influence in the blockchain industry with initiatives such as Lykke blockchain business services, LyCI digital assets index, and a thinktank that also serves as a fundraiser for blockchain-based solutions.
Combining Technology and Expertise through Partnership
Speaking about the partnership, Cardano’s Foundation’s Chairman Nathan Kaiser said that they’re pleased to work with Lykke Corp, which is one of Switzerland’s most innovative blockchain companies.
“Through this collaboration, both Cardano foundation and Lykke Corp will seek to build out financial infrastructure and offer services that will both empower the Cardano ecosystem and enrich the wider blockchain space.”
Lykke Corp’s Founder and CEO Richard Olsen also stated that Cardano possesses all the “critical attributes” such as formal methods, scalability and open source code, that make it the blockchain of choice for banks.
“Our collaboration with the Cardano Foundation enhances the organized trading facility (OFT) offerings of Lykke, and paves the way for new Lykke products and services built and deployed on Cardano.”
Both organizations plan to enrich their ecosystems to deliver a new standard of financial services and products. According to Cardano Foundation’s Communication Director Bakyt Azimkanov, the partnership is also in line with their core mission of accelerating interoperability and generating value for its stakeholders.
Cardano’s Big 2020 Moment
The news comes ahead of Cardano’s shelly mainnet launch which has put the Cardano community on edge with anticipation, with ADA’s price expected to reach $1. Cardano’s Charles Hoskinson Cardano is going to be the best cryptocurrency in the world.
“There really is nothing on the market that’s as good as to what we’re delivering this year. Because at the end of the day, we have it all.”
Next to the bull market Cardano and Ethereum are the most watched out for events this time of the year, as the crypto community waits to see how Ethereum will handle its PoS migration with the promised launch of Phase 0 in the Q4 2020.