Place/Date: - November 22nd, 2017 at 1:27 pm UTC · 3 min read
Source: Exchange Union
As of 4 pm, 22nd of November (UTC+8), XUC (Exchange Union Coin) is tradable on OKEX, a renowned digital asset exchange. Within the first hour of trading, XUC did reach $7.85, a 195% increase compared to 24 hours before.
Founded in 2017, Exchange Union is built by a team with profound experience in technology and finance.
James Wo, CEO of the company and an alumnus of Columbia University, is convinced that blockchain technology will shape the way we are transferring value in the future. Through his Digital Finance Group’s investment in blockchain companies, James has identified a host of problems regarding digital asset exchanges, including insufficient connectivity, circulation, blind spots in cross-token transactions and an overall unsatisfying cost-efficiency. This inspired the establishment of Exchange Union. Exchange Union’s roadmap includes XUC as a token to enable cross-exchange and cross-token transactions, minimize trading friction and enhance a digital asset’s liquidity.
Mikael Wang, former CTO of BTCC and industry veteran, lauded James’ initiative and cooperated closely together to design Exchange Union’s technological architecture. After continuous optimization, James collaborated the concept with his mentor, Terry Culver, Vice Dean for Development, Columbia University School of International and Public Affairs, whom expressed his support for the business model and became the third member of the founding team. Hou Tuanzhang, former Vice Chairman of AJ Securities, brings his industry experience as fourth core member.
Similar to Ripple’s commitment to connect banks, Exchange Union is dedicated to seamlessly connect digital asset exchanges. While Ripple’s vision is relatively broad and somewhat difficult to execute when not applied to traditional banks, Exchange Union’s value proposition is the clear-cut and focused commitment to the needs of digital asset exchanges and its users. Also, Exchange Union’s initiative to build the technology on a blockchain is based on the team’s belief in a decentralized and openly accessible network. Each exchange forms a node, which composes the network and maintains the blockchain. All transactions are crypto graphically secured and stored on the chain.
Compared to Ripple’s system, Exchange Union’s chain is more open and allows all exchanges and users to join the network. It makes an exchange’s token available to everyone in the union, facilitates real-time settlement and guarantees the best price via price discovery. This brings users convenience, enables a real global reach for exchanges and largely enhances trading efficiency; a win-win for exchanges and users.
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.
Exchange Union’s experienced team of more than 50 professionals is a key factor. The team is comprised of some of the best engineers who have a proven track record at global ventures like HP, IBM and Baidu. Exchange Union changes today’s value transfer.