Blockchain project Ontology Network has partnered with Switzerland’s leading crypto-financial service provider, Bitcoin Suisse AG, to strengthen the European and Asian ecosystems.
Ontology is a high-performance platform that supports collaboration among public blockchain and distributed ledgers that can be customized for different applications.
The partnership allows Bitcoin Suisse to list Ontology’s native token, ONT, for trading on its exchange, and in return, Ontology’s ONTO wallet will add support for the CryptoFranc (XCHF) stablecoin.
In other words, Bitcoin Suisse’s clients can now buy and sell the ONT token, and Ontology’s ONTO wallet users will be able to send and receive XCHF from their ONTO wallet while effectively managing their digital identities.
Per the announcement, the arrangement also creates opportunities for “mutually-beneficial, cross-market collaborations” between the two companies, with a focus on Asia and Europe.
Andy Ji, Co-founder of Ontology, expressed his enthusiasm about the new alliance, saying:
“We are thrilled to be working with Bitcoin Suisse, one of the leading crypto-financial services companies that has played a prominent role in defining Switzerland’s strong credentials as an elite crypto and blockchain jurisdiction. The timing of this is significant, given our imminent plans to establish an office in Berlin and to expand our European footprint more broadly.”
Armin Schmid, CEO of Swiss Crypto Tokens AG also commented:
“In the midst of this phase of global financial turmoil and uncertainty, both institutional and retail investors are increasingly being drawn to safe-haven currencies such as the Swiss Franc. I’m pleased that users of the ONTO wallet can now access the CryptoFranc and use it anywhere that XCHF is accepted.”
Since its launch in 2013, Bitcoin Suisse AG has become a reputable player in different areas of the financial market, including brokerage, lending, custody, and crypto services.
The Swiss company, currently valued at over $275 million, announced last month that it is looking to raise an additional $50 million in capital to funds its dual banking licenses application.
Ontology Signs Exclusive Partnership
Ontology Network, on the other hand, has been partnering with reputable companies like the German decentralized digital identity specialist, Spherity, to advance its digital identity solution.
The project also recently signed Memorandum of Understanding (MOU) with Berlin’s Hochschule für Technik und Wirtschaft (HTW) University to research the possibilities of creating customized blockchain solutions.
Ontology’s ONT token is currently ranked as the 30th largest cryptocurrency in the world. The coin was recently listed for trading on Bitpanda and eToroX. At the time of writing, the value of ONT was $0.571, a 4% increase on the daily chart.