Bit.com, the “high-performance” digital currency exchange, will be partnering with TON (The Open Network) to form a “strategic” partnership to “develop, enhance and expand the TON Ecosystem.”
The platform will be “utilizing its trusted security partner, Cactus Custody, to support TON’s native token custody by the end of March 2022.”
Bit.com listed TON in early January 2022, and will also be “supporting the TON native token deposit and withdrawal on its platform.”
Bit.com’s sister platform Matrixport has “supported the TON Swap, exchanging from TON to USDT or USDC immediately.” The partners will also be looking into “the possibility of adding TON on the Matrixport platform as well as Bit.com’s savings product in the near future.”
Toya Zhang, CMO at Bit.com, stated:
“After learning about TON’s history and roadmap, as well as observing the performance of TON after bit.com’s listing. We are convinced about TON’s potential. Bit.com and Matrixport have a rich variety of product offerings including trading tools and asset management tools, we are very happy to work with TON and would like to embrace TON in our various products,”
Steve Yun, Founding Member of TON Foundation, remarked:
“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 in addition to the innovative asset management products provide great value for institutions and retails alike. We are excited about Matrixport and Bit.com’s support.”
As mentioned in a release, Bit.com is a “full-suite” cryptocurrency exchange launched by Matrixport, an integrated financial services firm with head offices 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.”
In terms of trading volume, Bit.com claims to be “the second-largest in the BTC and ETH options market.”
Bit.com is part of the Matrixport family and the nascent crypto finance space. Bit.com is committed to offering price discovery, trading strategy execution, and liquidity provision services “while constantly driving financial product innovation, listing selective tokens for our users.”
As mentioned in the update, 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. It’s ultra-cheap, user-friendly, and fully operational.”