Blockchain startup CREAM has partnered up with the Singapore-based Bitrue exchange to push the adoption of VeChain assets, according to a recent press release.
Bitrue will add VeThor (VTHO) – Blockchain startup CREAM’s VeChain proprietary token – to its listing today, February 25, 2020. Depositing and withdrawing VTHO on the exchange is possible at the time of writing. The exchange will enable trading soon, featuring a VTHO/BTC pairing.
VTHO is VeChain’s secondary token, used to pay for transactions or uploading data to the blockchain. Holders of the primary token, VET, acquire VTHO over time.
The partnership will include the upgrade of Bitrue’s VTHO distribution program, which will result in VET holders receiving VTHO tokens on a weekly basis, rather than the previous monthly frequency.
VeChain will also benefit from Bitrue’s support of the VeChainThor VIP180 token standard, while Bitrue users who successfully bind their X Nodes to the VeChain X Node platform will benefit from a 10% APR on VET holdings for the first 3 months after a successful X Node binding.
Speaking about the partnership, CEO of Bitrue Curis Wang said that “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.”