COSS.io, a Singapore cryptocurrency exchange, recently announced that it has partnered with Snap Innovations. The official MOU (Memorandum of Understanding) was signed between COSS Pte Ltd and Snap Innovations back on the 21st of February, 2019.
Snap Innovations focuses on launching innovative products/projects on the leading edge of technology such as blockchain, artificial intelligence, and FinTech. Established in 2011, linked to over 30 Tier 1 exchanges all over the world, and supported by government-linked agencies such as Spring Singapore and EDB Singapore, Snap has grown into an international powerhouse seeking to break new ground all the time.
Under this partnership, Snap Innovations will be providing COSS with two key services:
- Market making – Market makers are large volume makers that place orders on both bid-ask sides to provide the liquidity that traders need to trade with better price discovery, as well as tightening the bid-ask spread. Market-making activities will take place against the majority of the listings on COSS, and that will increase the overall market efficiency on the exchange.
- Project on-boarding – Snap Innovations will take on the role of on-boarding projects from their portfolio of companies into COSS, which means users can expect to see more quality projects listing on the exchange in the near future.