15th July, Shanghai, China, From the founder of Huiyin Blockchain Venture comes the latest innovation in the cryptocurrency ecosystem – Exchange Union coin [XUC] – a cross-exchange trading token to improve functionality, efficiency and standards of customer service for the digital currency community. XUC bridges digital currency exchanges around the world to enable cross-exchange trading, cross-exchange clearing, deposits and withdrawals among different digital currencies and assets.
Digital Exchanges currently are isolated from one another despite the global and distributed nature of cryptocurrencies. Many exchanges still find themselves restricted by language barriers and geographical borders- this causes the price of digital currencies to vary by as much as 10% between different the trading platforms. Exchange Union encourages the union of exchanges through the XUC token that allows inter-exchange trading to take place efficiently. XUC operates as a ‘universal ’ that can be widely accepted and circulated. Exchanges do not have to list the same cryptocurrencies as each other in order to use XUC, and can take advantage of additional revenue from transaction fees.
‘Our trading solution will provide essential infrastructure for the growing digital currency market. Bridging the gap between exchanges maximises the unique and decentralised 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,’ James Wo, Founder, Exchange Union
Phase two of its two year roadmap will see the development of an Exchange Union Chain that will work to improve the credibility and reputation of exchanges across the industry. The Chain will further streamline inter-exchange transactions by eliminating transactions fees, setting up its own consensus algorithm and offering enhanced features to members.
Exchange Union is partnered with Huiyin Blockchain Venture the world famous blockchain focused venture capital fund. It has $80 million in funds and over 20 portfolio companies around the world, including digital currency exchanges, blockchain use cases and infrastructures. Exchange Union is also pleased to partner with Jinsheng Capital one of the largest private equity management institutions from China managing over $4 billion in assets.
The leadership team is comprised of experts working at the highest levels across the financial and blockchain industries. Exchange Union Founder, James Wo, is also Founder & Chairman of Board of Huiyin Blockchain Venture, the world leading blockchain focused venture capital fund. He is also Board member of Purse and Ripio. He is joined by Mikael Wang, previously CTO of BTCC and former 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 earliest financial institutions in China.
Exchange Union will offer XUC tokens to interested parties in a crowd sale from 7th August. XUC will have no pre-sale. For more information see: www.exchangeunion.net