Bit.com, the “high-performance” cryptocurrency exchange, will be teaming up with TON (The Open Network) in key areas so they can develop, improve and further expand the TON Ecosystem. The platform will leverage their trusted security partner, Cactus Custody, in order to support TON’s native token custody by the end of this month.
Bit.com had listed the TON token at the beginning of 2022. The exchange confirmed that it would also be enabling the TON token deposits and withdrawals via its trading platform. Bit.com’s sister platform Matrixport has been supporting the TON Swap, exchanging from TON to Tether (USDT) or stablecoin USDC. The partners will now be looking into the possibility of adding TON on the Matrixport platform along with Bit.com’s savings product in the foreseeable future.
Toya Zhang, CMO at Bit.com, noted that they were interested in learning about TON’s history and extensive roadmap, as well as monitoring the performance of TON after Bit.com’s listing. Zhang claims that they are now “convinced” about TON’s potential. He also mentioned that Bit.com and Matrixport have “a rich variety of product offerings including trading tools and asset management tools,” They are quite happy to work cooperatively with TON and would like “to embrace TON” in their line of products, Zhang added.
Steve Yun, Founding Member of TON Foundation, noted that Matrixport is the first major CeFi platform to provide a range of institutional-grade services that are critical to the TON ecosystem. Yun also mentioned that custody and escrow solutions in addition to the innovative asset management products offer significant value for institutions and retail.
Bit.com is a full-suite digital asset exchange introduced by Matrixport, a financial services company based in Singapore. Since August 2020, Bit.com has been supporting the perpetual, futures, and options products of Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH), They were also one of the first service providers to offer BCH options. In terms of trading volume, Bit.com claims to be among the largest BTC and ETH options markets.
Bit.com is a division of the Matrixport Group and a key player in the fast-evolving crypto finance sector. Bit.com is fully committed to offering price discovery, trading strategy execution, and liquidity provision services. The firm is focused on supporting financial product innovation and listing selective tokens for their users.
TON is a proof-of-stake chain developed back in 2018 by the Durov brothers, who are the founders of Telegram Messenger. Later on, it was handed over to the open TON Community, which has been focused on developing it since that time. TON was specifically developed for fast transfers. It’s affordable, user-friendly, and 100% operational.