LOS ANGELES, CA / ACCESSWIRE / February 14, 2020 / MATIC, the utility token of Matic Network's layer-two scaling network for Ethereum, will be listed on Singapore-based crypto exchange, BiKi on February 14th. The move marks a continued push by Matic to cater to the blossoming Southeast Asian market, with Singapore serving as a major financial gateway for the Asian crypto communities.
"The listing will offer the Matic community and wider crypto community a secure, reliable, and advanced trading experience via BiKi exchange," details Matic COO, Sandeep Nailwal. "Our listing on BiKi is a major part of our expansion into the top markets in Asia like China, Vietnam, and South Korea."
Matic, which is based in India, has already been making strides in the Chinese market. The team has established a presence with a rapidly growing Telegram group, which recently surged past 5k users. In addition, the Matic team has recently created a group on WeChat, China's super app, that has already attracted more than 3k users.
Matic's listing on BiKi will include a community promotion event, beginning on 02/21 and lasting until 02/28, which will offer BiKi users the chance to secure a share of 120k MATIC tokens. The program will reward the first 1,000 verified BiKi users that deposit a minimum of 600 MATIC with 60 additional MATIC tokens. Users with the highest deposit volume following the conclusion of the event will receive an additional portion of the remaining 60k MATIC rewards pool, in proportion to their total deposit volume.
"The Matic Network team is always looking for ways to increase the global availability of the MATIC token and provide our community with more options for a better trading experience," says Nailwal. "With BiKi's keen focus on security and user experience, our priorities are neatly aligned."
BiKi has been gradually accumulating volume in recent months as the SE Asian crypto market positions itself as a hotbed of fintech innovation. Singapore has long been considered the financial gateway to Asia, and the sovereign city-state is ideally positioned to serve as a global hub for crypto adoption. BiKi was launched in August 2018 and has normalized 24-hour trading volumes around $80 million at the time of writing.
For Matic, the listing on BiKi will serve as an anchor for its expansion east into a lucrative Asian market. "As Matic and BiKi are both industry leaders in their respective fields, we see huge value in our collaboration for both parties, and for the wider crypto space as a whole," says Nailwal.
Deposit and trading of MATIC on BiKi will begin at 15:00 GMT +8 on February 14th.
About Matic Network
Matic is a layer two scaling solution for Ethereum that utilizes a hybrid of PoS sidechains and Plasma technology. The network's Beta mainnet is live, with the full mainnet due for launch in Q1 of this year. Matic has attracted the attention of many prominent industry players including Coinbase Ventures and Binance, who are Matic's seed round investor and IEO partner respectively. Matic Network's superior scaling capabilities have led to the onboarding of 40+ Ethereum DApps already, including Decentraland, BetProtocol, and SpringRole. The project is making a surge into the SE Asian market, which is bolstered by its listing on BiKi.