Dated 12 November, the Algorand Foundation has partnered with the Blockchain Association Singapore (BAS) to spearhead the development of blockchain technology in Singapore and throughout the Southeast Asian region.
In the memorandum signed there is a mention of collaboration between the two parties will focus on awareness and knowledge of Algorand protocols, applications, and development opportunities.
This collaboration is in line with the mission of the Algorand Foundation which wants to support innovation for an inclusive ecosystem that is capable of offering opportunities for the establishment of a borderless economy.
For now, the value of the Global Blockchain Market has reached a level of approximately $ 5.3 billion for 2021 and is expected to continue to soar to a value of $ 34 billion in 2026.
In early 2021, Algorand (ALGO) recorded an outstanding performance after soaring to a 2 -year high, driven by over 500 ecosystem collaborations.
For example blockchain finance and asset tokenization firm, Koinbanx, signed a cooperation agreement with El Salvador to establish a blockchain infrastructure based on Algorand technology by early 2021.
Not only that, Algorand is also active in further developing use cases covering decentralized finance (DeFi), non-fungible tokens (NFT), payments, and central bank digital currency (CBDC).
At the time of writing, ALGO is trading at $ 1.94, down over 2% in 24 hours.
