Cryptocurrency exchange platform WOO X has announced a strategic partnership with Wintermute, a well-known crypto market maker and liquidity provider.
Following the development, there was a 20% increase in the price of WOO altcoin.
Wintermute, which has over $3.6 trillion in total trading volume, will act as the exclusive liquidity provider for WOO X.
WOO CEO Jack Tan expressed his excitement about the partnership, stating that Wintermute's strong history and reputation in the crypto industry make them an ideal partner. He believes that this collaboration will not only increase liquidity in order books, but also increase WOO X's credibility in institutional circles.
“This is a strong signal to professional traders that we are serious about making WOO X a premier venue for trading,” Tan said.
While WOO altcoin is traded on major cryptocurrency exchanges such as Binance, Kucoin and Kraken, it is not yet listed on Coinbase.
Wintermute CEO and co-founder Evgeny Gaevoy said in his statement:
“Wintermute's commitment to creating efficient and liquid markets in digital assets aligns with WOO X's focus on superior execution and advanced trading features. “Our expertise in providing robust liquidity complements this collaboration based on our shared commitment to transparency, which is critical to building trust in centralized crypto trading products.”
*This is not investment advice.