WOO Network, a digital asset liquidity network, has launched WOO X, a new exchange. The new exchange is a trading platform that provides best-in-class liquidity for superior trading execution to professional and institutional traders. Its innovative concept aims to unify market liquidity in a highly fragmented ecosystem and democratize bitcoin trading.
WOO X delivers deep liquidity by pooling liquidity from more extensive exchanges and establishing a liquidity pool with numerous market makers or liquidity providers, including Kronos Research.
WOO X is the first digital asset exchange to use a transparent Payment for Order Flow (PFOF) approach to ensure regular traders pay the lowest commission cost possible. The WOO X model differs from typical PFOF models in that it focuses on trading execution quality. Traders on WOO X have access to a clear order book and market prices and spreads that are competitive compared to worldwide marketplaces.
WOO X has the industry’s most aggressive maker and taker cost structure, and traders can achieve full zero maker and taker fees by staking the required number of WOO tokens on WOO X.
Jack Tan, founder, and Co-CEO of WOO Network said that sellers and purchasers face higher expenses due to fragmented liquidity, especially those with more significant volumes. He added by providing access to its industry-leading liquidity pools; WOO Network is about to disrupt this fast-growing multibillion-dollar market. Jack said that WOO Network facilitates the construction of an exchange that will set the bar for liquidity and optimal execution for traders through their cooperation with Kronos Research and other quantitative market-makers.
The staff takes proactive measures to ensure that they are up to date on all applicable laws. KYC (know-your-customer) and AML (anti-money laundering) compliance are two of the most critical procedures. WOO Network is quickly adapting to the ever-changing legal landscape as countries worldwide speed up their efforts to establish more discipline in the business.
Jack Tan and Mark Pimentel, two Wall Street veterans, established WOO Network. Tan earned his bachelor’s degree from Carnegie Mellon University and went on to work at BNP Paribas and Deutsche Bank. He has been a trading since the age of 14 when he made his first stock trade. Pimentel earned his bachelor’s degree from CMU and went on to work for Citadel Investment Business and Knight Capital’s electronic market-making group.
About WOO Network
The WOO Network is a profound liquidity network that connects global liquidity, top market makers, and quantitative trading methods to provide democratized access to deep liquidity at cheap cost to traders, exchanges, institutions, and DeFi platforms.
For more information, visit https://x.woo.org/spot