Bithumb, the cryptocurrency exchange, said on Feb. 17 that it has signed a strategic partnership with BitMax, the Singapore bourse.
Through cooperation, the two companies plan to jointly develop new services and strengthen their competitiveness in the global market.
They also agreed to actively cooperate in developing infrastructure related to cryptocurrency, a Bithumb official said.
BitMax, which is a global cryptocurrency exchange, was established in 2018. Many financial engineering experts from Wall Street, including Barclays and Deutsche Bank, participated.
It currently ranks among the top 10 to 15 global players in terms of coin market cap liquidity, and serves derivatives based on cryptocurrency price volatility.
The partnership’s success was influenced by the network of CEO Choi Jae-won from Barclays. With cooperation, Bithumb will strengthen its capabilities of blockchain and cryptocurrency technology and also gain momentum in entering global markets.
In a bid to become a blockchain-based global comprehensive financial platform company, Bithumb is aggressively pushing to strengthen its own technology development capabilities and collaborate with domestic and foreign institutions.
"We have an opportunity to share business ideas and know-how of Wall Street financial experts through our strategic partnership with BitMax. In the future, we will take the lead in building related industrial infrastructure and expanding the base by strengthening cooperation with domestic and foreign blockchain specialized agencies,” the official said.

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