Exchange union will bridge digital currency exchanges around the world and enable investors’ cross-exchange trading, cross-exchange clearing, deposit and withdrawal among different digital currencies and assets.
What is the objective of the exchange union?
Exchange Union will improve the trading efficiency of exchanges and realize the market-oriented distribution of digital currencies liquidity and global price discovery.
We plan to achieve this by first bridging the exchanges in terms of trading, deposit, withdrawal and clearing through agreements among digital currency exchanges and through discounted transaction fees as well as great deals on credit and margin trading. Quickly after that, we will apply blockchain technology to establish the full interconnection among digital currency exchanges.
Why is a union of exchanges important for both the users and the exchanges themselves?
The vision for globally distributed and decentralised cryptocurrency markets is hampered by many factors including region, fiat currency, language and investment environment. In fact, many digital currency exchanges tend to be localized and isolated, not all cryptocurrencies are available to customers from different regions and the prices can vary from exchange to exchange. In addition, the quality of service provided by exchanges varies and not all trading information can be found on the open market. This is an obstacle to cross-country or cross-region trading, clearing, deposit and withdrawal, which brings inconvenience to investors and traders. Furthermore, restraining the nature and advantage of digital currencies could have adverse effects on global digital currency liquidity, market-oriented distribution and effective global price discovery.
This is an obstacle to cross-country or cross-region trading, clearing, deposit and withdrawal, which brings inconvenience to investors and traders. Furthermore, restraining the nature and advantage of digital currencies could have adverse effects on global digital currency liquidity, market-oriented distribution and effective global price discovery.
Can you share which exchanges are already part of the union and if there are others in the pipeline?
We have established cooperation with major exchanges around the world and have signed a confidential agreement with some of our exchanges. In December we will publicly sign the first exchange and aim to complete on-boarding of major exchanges across the globe by June 2018. We have sufficient confidence to accomplish this goal.
What are the criteria to be a member of the exchange union?
Exchange Union welcomes every exchange that has local authorization to operate.
Who takes the final decision if an exchange can be part of the union?
The final decision is made collectively by our core team members with guidance from our professional advisors. There are more details on this in our whitepaper. Overall, we welcome any promising exchanges to join us.
Will the member exchanges maintain their GUI/UX interface?
Yes, GUI/UX will be maintained unless there’s conflict within the union.
What are the most typical investments in exchanges that the union can foresee?
In terms of technology, we mainly invest in infrastructure, system maintenance, new technology preview (blockchain 3.0) technical staff, technology development and so on. In terms of Investment, we are pursuing strategic investment for the global digital currency exchange to establish the union. After members join the union, the union will produce synergies.
How will profits of the exchange union be shared with the token holders?
XUC will play a significant role in Exchange Union for decentralized payment and liquidation. We anticipate that the value of the token will rise alongside the development of the Exchange Union.
The white paper does not specify a founders reward, is this correct?
Yes, correct. There’s no founders reward in the Exchange Union ICO.
The list of advisors of the project is impressive. these industry leaders will give this project a great backing. how did the exchange union attract this top talent?
Our relationship to each of our advisors is well established through previous cooperation with them. We are the main shareholders of their companies.
For more information please visit: https://www.exchangeunion.net/
We thank the Exchange Union team for the interview.