US company Okcoin is partnering with Singaporean crypto lending platform Holdanut, the partnership according to the general manager “will benefit customers in the cryptocurrency ecosystem.”
Hodlnaut, a Singapore-based crypto lending platform, will collaborate with Okcoin, a cryptocurrency exchange based in the United States, to increase user adoption and transactions.
Hodlnaut said the agreement will allow its users and those on Okcoin to buy cryptocurrencies and earn rewards on their holdings in a statement released on Wednesday.
Singapore-based users already utilize Okcoin as a fiat on-ramp solution to go from the Singapore dollar to Bitcoin (BTC) and Ether, according to the lending platform (ETH).
Khairi Azmi, Okcoin’s Singapore general manager, said:
“We are designing the next generation of tools to help onboard the investors and traders who have been on the fence regarding crypto.” “We feel that this collaboration will benefit customers in the cryptocurrency ecosystem.”
Hodlnaut users will be able to earn $10 in Bitcoin around 0.00022 BTC at the time of writing, depending on a price of $44,524 for joining up for the platform and meeting specific Know Your Customer and trading conditions, according to the statement. Users that join up for Hodlnaut using Okcoin will also be eligible for a fiat incentive.
Okcoin, which was founded in 2013, is one of the world’s oldest cryptocurrency exchanges, with users in over 190 countries.
Despite having its headquarters in the United States, Okcoin relocated to Singapore in 2020 and now allows consumers to trade Singapore dollars for BTC and ETH.