On 22nd July 2020, the Cardano Foundation announced a new partnership with Lykke Corp, a Switzerland-based fintech startup.
The partnership is geared towards combining the Cardano Foundation’s deep blockchain tech experience with Lykke Corp’s financial expertise to improve Lykke’s financial services offerings and strengthen its position in the market.
Lykke Corp is in the process of applying for the Swiss Financial Market Supervisory Authority (FINMA) authorization, which if granted, shall immensely boost its operational scope and range of financial products.
The Cardano Foundation’s collaboration with Lykke Corp will seek to accelerate the deployment of these financial products by offering unique access to the Cardano (ADA) blockchain.
Nathan Kaiser, Chairperson of the Cardano Foundation, noted:
“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.”
Today’s remarkable partnership aligns perfectly with the Cardano Foundation’s core objective of facilitating industry partnerships to accelerate interoperability and unlock value for all ADA stakeholders.
The Foundation is on a Quest for Improvement
Cardano is on a constant journey of never-ending improvements, and true to their open-source ideals, their dev team recently announced that many of their future enhancement projects would come directly from members of the ADA community.
The Cardano Foundation has also been recruiting new talent to join the project and bring in new ideas, having partnered recently with Wave Financial to fund DeFi and DApp developers.
Last month, the Foundation also made new appointments in a bid to expand third-party integration capabilities and further develop relations with crypto exchanges.
The new recruits have been brought in to enhance the ADA foundation’s technical offerings ahead of the highly anticipated Shelley protocol launch later this year.
ADA Prices On The Rise
ADA prices have been skyrocketing this July, surprising many crypto market experts as it is the highest price level the token has seen since 2019.
Presently, ADA price is seeing a 200% year-to-date surge that has made Cardano’s native token one of the top-performing cryptocurrencies of 2020. The recent gains have even propelled ADA to the sixth position on crypto rating website – CoinMarketCap.
This staggering growth has largely been fuelled by the upcoming shelly upgrade that will decentralize the network and introduce an incentive scheme that allows ADA holders to stake their coins.
Cardano is also expected to tap into the DeFi space, which is currently booming, further improving prospects of the project’s future success.