Exchange Union Coin – XUC – a cross-exchange trading token designed to improve functionality, efficiency and standards of customer service for the digital currency community, is a new innovation from the founder of Huiyin Blockchain Venture. XUC bridges digital currency exchanges around the world to realize investors’ cross-exchange trading, cross-exchange clearing, deposit and withdrawal among different digital currencies and assets.
XUC operates as a ‘universal coin’ that can be widely accepted and circulated. Exchanges do not have to list the same cryptocurrencies as each other in order to use XUC, and can take advantage of additional revenue from transaction fees. Exchange Union Coin encourages the union of exchanges through the XUC token, allowing inter-exchange trading to take place efficiently.
James Wo, Founder of Exchange Union Coin, remarked: “Our trading solution will provide essential infrastructure for the growing digital currency market. Bridging the gap between exchanges maximises the unique and decentralised nature of cryptocurrencies whilst delivering a fast, seamless experience for traders. Digital currency is sought for its universal portability and bringing exchanges into a union is an essential step for the industry to progress,”
Phase two of Exchange Union Coin’s two year roadmap will see the development of an Exchange Union consortium that will work to improve the credibility and reputation of exchanges across the industry. The consortium will further streamline inter-exchange transactions by eliminating transactions fees, setting up its own consensus algorithm and offering enhanced features to its members such as KYC.
Exchange Union is partnered with the Huiyin Blockchain Venture blockchain-focused venture capital fund. It has $80 million in funds and over 20 portfolio companies around the world, including digital currency exchanges, blockchain use cases and infrastructures. Exchange Union Coin has also partnered with Jinsheng Capital, one of the largest private equity management institutions from China – managing over $4 billion in assets.
Exchange Union will offer XUC tokens to interested parties in a crowd sale from the 7th August and will have no pre-sale.