In a press release published on Monday, investment and advisory company CREAM revealed a partnership with cryptocurrency exchange Bitrue. This collaborative effort will concentrate on delivering real value to CREAM-incubated projects.
CREAM is the prime driver of the VeChain ecosystem and thus aims to secure real-world use cases and unlock novel value to the VeChainThor network and the CREAMethod incubation ecosystem. CREAM is one of the premier investment incubators that concentrates on improving business effectiveness through blockchain.
As part of the most recent collaboration stage, Bitrue confirmed that it will list the VeThor Token (VTHO) on Tuesday (25.02). Users can deposit and withdraw VTHO from the exchange, while trading between VTHO and BTC will begin shortly after.
Bitrue is a Singaporean-based cryptocurrency exchange that provides staking and lending services, which currently have the best APR investment rates in the world. The popular ‘Power Piggy’ option allows users to stake cryptocurrency and earn up to 15% interest rates.
Bitrue’s VTHO distribution program will be updated as a result of the partnership, which will lead to an increase of VTHO distribution to VET holders, from the current monthly basis to a weekly one. This will guarantee VET holders will surely receive their generated VTHO more frequently.
VTHO is the token, generated over time from holding VeChain(VET), which is used when sending transactions or uploading data to the blockchain. The VeThor Token is a secondary token in the ecosystem.
CEO of Bitrue, Curis Wang commented on the new collaboration:
“Bitrue has been continually impressed by the growing adoption of the VeChainThor blockchain and appreciates the proactive approach that CREAM is taking to strengthen both the CREAMethod and VeChain ecosystem. Enterprise and business use cases will drive mass adoption of blockchain and we’re glad we can play a role in accelerating this process. Bitrue pledges to work in the best interests of both CREAM and VeChain, whilst simultaneously enhancing our bespoke trading products to effectively serve both new and current customers alike.”
In addition, Bitrue announced support of the VeChainThor VIP180 token standard, which will add fast-tracked listing services for forthcoming projects that are based on the VeChainThor public blockchain.
To users who successfully bound their X Nodes to the platform, Bitrue promised to implement VeChain X Node benefits. Such users will be able to use 10% APR on VET holdings during the first 3 months
CREAM Co-Founder, Jackson Fu expressed his gratitude from the new partnership:
“At CREAM, we strive to provide meaningful value for our incubated projects, partners and stakeholders. Cryptocurrency exchanges that are dedicated in providing exceptional value to customers are rarely seen, Bitrue epitomises the customer centricity we value. We are confident this partnership will yield dividends for all parties involved and we thank Bitrue for the dedication and commitment to the CREAMethod and VeChain ecosystem.”