WOO Network launches new digital asset trading platform WOO X

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• WOO X enables retail users to access the institutional liquidity network with low or zero fees
• Deepest liquidity attained through the aggregation of global liquidity, advanced crossing and order routing engines, and organic capital from top market makers
• First digital asset exchange to use Payment for Order Flow adapted for transparency and trade execution

TAIPEI, Aug. 20, 2021 /PRNewswire/ -- Today, WOO Network, a digital asset liquidity network, launched its exchange named WOO X. The new exchange is a trading platform providing professional and institutional traders with the best-in-class liquidity for superior trading execution. Its mission is to unify market liquidity in a highly fragmented ecosystem and to democratize cryptocurrency trading with its unique model.

WOO X achieves its deep liquidity through aggregating depth from larger exchanges and setting up a liquidity pool with multiple market makers or liquidity providers, including Kronos Research.

WOO X is the first digital asset exchange that applies a transparent model of Payment for Order Flow (PFOF) to guarantee the lowest commission fee for retail traders. The model adopted on WOO X differentiates from traditional PFOF models by focusing on trading execution quality. Traders on WOO X are provided with a transparent order book along with market prices and spreads competitively in line with global markets.

WOO X offers the most competitive fee structure across the industry across maker and taker orders, and traders can unlock full zero maker and taker fees when staking the required amount of WOO tokens on WOO X.

"Fragmented liquidity raises the costs for both sellers and buyers, especially participants with larger volumes. WOO Network is about to disrupt this fast-growing multi-billion-dollar industry by offering access to its industry-leading liquidity pools. Through our partnership with Kronos Research and other quantitative market-makers, WOO Network is enabling the creation of an exchange that will set the standard for liquidity and best execution for traders," said Jack Tan, founder and Co-CEO of WOO Network.

In light of jurisdictions around the world stepping up their efforts to instill more discipline in the industry, WOO Network is quickly adapting to navigate the ever changing legal landscape. The team takes proactive steps to stay on top of all applicable laws. Chief among these measures are KYC (know-your-customer) and AML (anti-money laundering) compliance.

WOO Network was founded by two Wall Street veterans, Jack Tan and Mark Pimentel. Tan graduated from Carnegie Mellon University, then worked at BNP Paribas and Deutsche Bank. He is a seasoned trader, making his first equity trade at age 14. Pimentel also graduated from CMU, started his career at Citadel Investment Group, and continued on at Knight Capital's electronic market making group. His team operated the largest dark pool in the US and Europe during the time.

Incubated by Kronos Research, WOO Network has no shortage of capital support from key industry players such as Dragonfly Capital, Three Arrows Capital, and IOSG Ventures, among others, a true attestation of faith in the company's direction.

About WOO Network
The WOO Network is a deep liquidity network connecting global liquidity, top market makers, and quantitative trading strategies, to provide traders, exchanges, institutions, and DeFi platforms with democratized access to deep liquidity at a low cost. The WOO Network was founded by Kronos Research, one of the top quantitative trading firms in the world generating $5-10 billion in daily trading volume, with the goal of democratizing access to the best-in-class liquidity, trading, and yield generation strategies through various products.

Visit our website: x.woo.org

Media contact:

Peter Tou: [email protected], (+886)9395-8-3595

SOURCE Wootech