Place/Date: Beijing, China - October 31st, 2017 at 7:38 am UTC · 3 min read
Source: Exchange Union
Following the debut on HitBTC on October 23, XUC, the token powering the renowned network of digital currency exchanges, Exchange Union, has been listed on CoinMarketCap, the world-leading digital asset information platform, providing key indicators of digital assets, including market cap, trading volume, price charts and the current market price.
As of 2pm, October 30, Beijing time, XUC was priced at $2.3 per token on CoinMarketCap. Exchange Union was started in 2017 by a professional team and is supported by the community.
James Wo, CEO of the company and an alumnus of Columbia University put a valuation on the establishment of an exchange union following his diagnosis of the crux in the course of investing in blockchain projects where insufficient connectivity between major digital asset exchanges, low efficiency of liquidity, blind spots of cross-currency exchange and high trading cost are the hurdles set in the way.
In the opinion of James, Exchange Union will get cross-exchange and cross-currency transactions linked with XUC in a bid to minimize transaction friction and enhance liquidity of digital asset.
James first had a talk with Terry, his mentor and Deputy Dean of School of International and Public Affairs at Columbia University. Terry possesses a broad vision with a commitment to public utilities development in developing countries and is tech savvy in terms of new technology revolution and business models. James was lauded by Terry through the 2-hour phone communication and made the decision about the establishment of a core team for the initiative.
Terry was on board and was followed by Mikael, former CTO of BTCC and Mr. Hou, former Vice President of AJ Securities and an Internet Finance veteran. This dream team, with James as the core, then consisted of Internet Finance expert, Ivy League scholar and blockchain elite. The four high-flyers kicked off their journey with vision, strategy and execution capability.
Looking ahead, Exchange Union will definitely lead the industry to an epoch-making future.
Exchange Union makes strategic investments in digital currency exchanges. With the synergy in the union, XUC will be listed on the markets of every exchange. Shortly after launch, Exchange Union will build a union chain.
Users can easily buy any digital currency throughout the exchanges in the union with a favorable price. Eventually, the barriers among the exchanges will be broken. Price discovery, cross-region trading, clearing, deposit and withdraw could be easily done in the union. Meanwhile, the exchanges in the union will benefit from high liquidity and broad user base.
HitBTC is a global trading platform with multi-currency support, operating since 2013. The exchange has markets for trading digital assets, tokens and ICOs and provides a wide range of tools as well as stable uptime.
The platform development started with a 6 million euro venture investment agreement, as of the collaboration between software developers, finance professionals and experienced traders. The core matching engine is among the most advanced technological products in its class and implements innovative features such as real-time clearing, advanced order matching algorithms and has been acclaimed for its fault-tolerance, uptime and high availability.