On December 22nd, BitWell announced a strategic partnership with WOO Network, in which the two parties will cooperate in depth in the CeFi sectors to improve the liquidity and trading experience of the coins on BitWell, and also bring more trading volume to WOO Network.
Unlike liquidity solutions already available in the market, WOO Network provides an API interface that enables the platform to easily connect to the liquidity of the major exchanges aggregated on WOO Network, as well as the huge amount of liquidity generated by the high-frequency strategies of Kronos, the quantitative fund market-making on it. Compared to third-party market-making teams, WOO Network’s liquidity can offer better depth, lower fees and reduced risk.
After connecting to WOO Network, BitWell’s order book depth and trading volume for each currency is expected to see a significant increase. Currently, WOO Network can provide liquidity support on over 82 main assets spanning a wide range of Layer-One networks. In addition, WOO Network is able to be integrated across exchanges, wallets, DeFi protocols, institutional trading desks, and asset managers. The cooperation will give BitWell users access to WOO Network’s deep liquidity, thus BitWell traders can enjoy faster order execution speed, lower slippage, and tighter spreads on the main trading pairs.
BitWell is an international digital asset derivatives trading platform, with team members from more than 10 countries and regions around the world, and core cadres who have worked for Morgan Stanley, IBM, Paypal, Tencent, Baidu, Sina, Binance and other global well-known financial and technology companies. BitWell currently has several product lines including options, perpetual contracts, spot, WELL Pool, and BitWell Savings that can meet the needs of users at all levels, providing users with one-stop digital asset trading and financial management services.
BitWell’s investors include Ceyuan Digital Assets, Dragonfly Ventures, Will Hunting Capital, NGC, SNZ, HashKey, Youbi Capital, Hash Global, LinkVC, Zonff Capital and other top global venture capitals.
BitWell currently provides over 100 kinds of spot and contract cryptocurrency trading services for 65 countries and regions around the world. The mainstream coins, meta-universe, NFT, GameFi and other multi-segments are integrated to meet the investment and trading needs of various users.
About WOO Network
WOO Network is incubated by Kronos Research, one of the top quantitative investment and research institutions in the industry, and aims to solve the pain point of fragmented liquidity in the cryptocurrency market. WOO Network is committed to helping exchanges, wallets and other service providers provide users with low spreads, high depth and zero fees.
WOO Network has received investments from Distributed Capital, DFund, SNZ, Hashkey, and Vector Capital. On November 09, WOO Network just closed a $30 million Series A round of funding with participants including Three Arrows Capital, PSP Soteria Ventures, Gate Ventures, QCP Capital, Crypto.com Capital, AntAlpha, Fenbushi Capital, 3Commas Capital, TokenInsight Research, AVATAR Avalanche Asia Star Fund, and ViaBTC Capital, among others. This funding is a testament to the growing institutional confidence in the network and the tremendous value it brings to the cryptocurrency trading market.