Cardano News Today – Cardano Seals Partnership With Lykke Corp, Kicks Starts Work on Both Ecosystems – July 23rd, 2020

  • Cardano Foundation Announces Partnership With Fintech Firm, Lykke Corp 
  • Cardano ADA Holds the Line at $0.1250 But There Isn’t Enough Momentum to Push it Higher 

Cardano News Today – The Cardano Foundation has just announced a new partnership with a Switzerland-based fintech company, Lykke Corp. In an official blog post, the company announced that this partnership is aimed at promoting the fintech products and services while they increase their fintech market share. The Chairperson of the Cardano Foundation talked about the deal. He said that he is happy about the mutually beneficial partnership. In his words;

“Through this collaboration, both the 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.”

Cardano News Today – Lykke is Working on Bridging the Gap Between the Traditional and Blockchain Financial System

The partnership with Cardano makes sense since Lykke has always been interested in bridging the gap between the blockchain and the traditional financial sector. Typically, they offer cryptocurrency assets like Bitcoin BTC, Litecoin LTC, and Ethereum ETH on their exchange. Now, Cardano ADA will be one of the tokens that will be added to the exchange. Lykke is a regulated exchange. It got its license from the Cyprus Security and Exchange Commission. They are also in line to get a license from the Swiss Financial Market Supervisory Authority. If they get this Swiss license, Cardano will be able to combine its blockchain experience with Lykke’s traditional fintech experience in Switzerland without interference from the regulatory bodies in Switzerland. They will also be able to deploy Lykke’s products and services on the Cardano blockchain.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.138

According to the announcement by the Cardano Foundation, the partnership is also compatible with Cardano’s overall goal to build the ecosystem by sealing smart deals and developing value for stakeholders. The Chief Executive Officer of Lykke Corp, Richard Olsen, had this to say about the partnership;

“Our collaboration with the Cardano Foundation enhances the organized trading facility (OTF) offerings of Lykke, and paves the way for new Lykke products and services built and deployed on Cardano.”

Cardano ADA Holds the Line at $0.1250 But There Isn’t Enough Momentum to Push it Higher

 

In other news, the Cardano ADA token started gathering momentum this morning. The token, which was stuck in the $0.1220 level for more than three days, has finally gathered some momentum. It is now trading at $0.1254. This means that it is up by 2.86% against the USD and up by 1.14% against the price of Bitcoin BTC. The trading volume over a 24 hour period is $172,574,037 and the market capitalization is $3,252,603,394.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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