Huobi and Poloniex announced a strategic partnership despite initial rejections of a merger

Exchanges will gradually cooperate on HT coin development, liquidity sharing and global compliance, and Huobi will monitor Poloniex for new projects to list. New

Huobi and Poloniex announced a strategic partnership on November 30. Reports of a planned merger of the two cryptocurrency exchanges surfaced and were denied last week.

The two exchanges will "gradually cooperate" on the development of Huobi's HT coin ecosystem, connectivity, liquidity sharing and global compliance. Starting in December, Huobi's advisory board will conduct a monthly review of all Poloniex projects, with the best performers potentially listed directly on Huobi, the exchange said.

Discussions about a merger started with a tweet from Wu Blockchain. Poloniex is by far the larger of the two exchanges. It is not available for US users.

The Poloniex exchange, which Justin Sun acquired from Circle in 2019, will merge with his recently acquired Huobi exchange, according to people familiar with the matter. Coingecko shows that the daily spot trading volume of Poloniex is only 1/10 of that of Huobi. Exclusive

The Chinese stock market has seen a number of changes this year. It launched an investment arm in June. Co-founder Leon Li reported in August