It’s no secret that digital
currencies are garnering immense attention worldwide, with over 900 in
existence at a total market cap of over $100 billion.
This growth pattern,
however, has resulted in an increasingly fragmented and isolated ecosystem of
currency exchanges, many of which find
themselves restricted by language barriers and geographical borders. The
result? Price variations of as much as 10 percent between different global
Exchange Union, an
online platform that improves the functionality, efficiency and service
environment for digital currency traders, seeks to change this trajectory by reforming the whole digital currency market, serving as a
bridge for digital currency exchanges globally.
Its aim is to deliver a point of integration among the many digital currency
exchanges around the world, enabling cross-exchange trading, clearing, deposits
and withdrawals between various digital currencies and assets.
A new trading token, known
as Exchange Union Coin (XUC), will be used to drive this highly-efficient
clearing house for exchanges, allowing traders to move funds seamlessly between
platforms while enjoying price savings. XUC will facilitate transactions across
the exchange union chain, creating a consensus algorithm that reduces
confirmation times to less than a second, removes transactional fees along the
chain and ensures that transactions are not validated unless there is 80
percent consensus within the union.
Exchange Union has already
captured the attention of key exchanges that support the circulation and wide
acceptance of XUC for cross-platform trading. Exchanges are not required to
list a common set of cryptocurrencies in order to use XUC and can benefit from
additional revenues and transaction fees.
global project is being fueled by Huiyin Blockchain Venture, a firm that partners with innovative startups
and entrepreneurs to help them grow and define the future of the blockchain.
Huiyin currently has $80 million in funds and over 20 portfolio companies
around the world, including digital currency exchanges, blockchain initiatives
Union is also partnered with Jinsheng Capital, one of the largest private equity management
institutions in China, managing over $4 billion in assets.
trading solution will provide essential infrastructure for the growing digital
currency market,” said James Wo, founder of Exchange Union. “Bridging the gap
between exchanges maximises the unique and decentralized nature of cryptocurrencies
whilst delivering a fast, seamless experience for traders. Digital currency is
sought for its universal portability and bringing exchanges into a union is an
essential step for the industry to progress.”
leadership team at Exchange Union is comprised of a group of experts
collaborating across the highest levels of the financial and blockchain
industry space. Wo, who is also a board member of Purse and Ripio, is joined by
Mikael Wang, the former CTO of BTCC and chief solutions architect of Ericsson;
Terry Culver, vice dean for development at Columbia University School of
International and Public Affairs; and William Hou, former vice president of AJ
Securities, one of the first financial institutions in China.
on August 7, Exchange Union will offer XUC tokens to interested parties via a
crowdsale. Funds raised from this
campaign, which will be overseen by the ICO platform Token Market, will be
utilized for technique development, strategic investment (acquisitions and
subscriptions of digital currency exchanges, related shares and tokens),
operational marketing and launch fees. Token sale participants will benefit
from discounted trading fees as well as deals on credit and margin trading
information, visit www.exchangeunion.net.