NEM (XEM) is basically more centered and focused in the North and Northeast regions of Asia and in Australia. But it also has been a cryptocurrency with global stature, it is also involved in different projects across different countries. NEM (XEM) recently was involved in different partnerships with different firms and these partnerships have been a good supporter of NEM in the bear market.
Recently, NEM (XEM) Singapore partnered with KeySafeBank, along with PAL Network to cooperate and support KeySafeBank. It is Singapore’s leading third-party Institutional grade custodian cryptocurrency vault. NEM (XEM) has been appointed by the bank to power its Institution with the help of NEM’s blockchain security solution, which has been one of the best in the world.
KeySafeBank has signed a MoU with PAL network as well. PAL is a dual-layered protocol for pecuniary belongings which uses the data to connect the gap between purchasers and financial suppliers. The PAL network according to the signed MoU will provide insurance coverage for cryptocurrencies that users will hold with KeySafeBank until it will be released.
NEM (XEM) also announced recently that it has signed a collaboration pact with UAE, Ministry of Community Development (MOCD). Both the parties will be able to share precious info, knowledge, and updates on emerging technologies in the blockchain, according to the pact signed. Stephen Chia, NEM Foundation Council Member and Regional Head of NEM Southeast stated:
“We at NEM look forward to support the Dubai government in their vision to be a fully-digital government by 2021, and their goal of being world’s first blockchain-powered city by 2020.”
NEM (XEM) with this partnership with MOCD will be liaising with UAE’s residents. This adoption of NEM (XEM) will be very helpful for the citizens of UAE to have a closer look at what actually blockchain has to do with the technical world. This partnership will fulfill and satisfy the needs of the users as well.
Another NEM partnership has been with OATH Protocol which is to improve XEM’s security. This will enhance the security of NEM blockchain and will be very helpful for the users of the digital asset. This will also secure the voting system set up by the NEM blockchain and this OATH Protocol will make the voting system free and fair.
NEM (XEM) is also working to make governments stand by its side. Recently, the Malaysian Prime Minister visited NEM’s Centre. This is a good thing for NEM because government on your side means a lot in cryptocurrency. This increases the adoption of the asset, as well as it makes it more prestigious. NEM (XEM) is on its way to becoming one of the top global blockchain assets.
The global adoption of NEM is increasing day-in and day-out. This is helping the coin to perform decently in the market. Though the market is very harsh and it has been for a while now. This year (2018) has not been the one for the cryptocurrency, though some digital assets have been able to move around a similar price tag. NEM has been one of those cryptocurrencies. NEM has been a good performer and this is helping NEM to have a ride towards the north.
At the time of writing, NEM (XEM) was trading with a price of $0.072 USD with a market cap of $624 million. At the moment it was on the 16th spot in the coinmarketcap rankings. It is moving up with a slight pace due to market bearness. Today (27th Nov 2018) the market is again red and most altcoins are down up to –6% to –7%, but NEM is resisting the bear market and in the last 24 hours it has surged up to 2.14 %, which is a positive sign for XEM where most of the market is bleeding.