BingX Platform Partnered with WOO Community, Teases Higher Costs and Decrease Transactional Latency – U.Right now

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Vladislav Sopov

BingX (previously, BingBon), a global spot and derivatives platform, joins WOO Network’s liquidity ecosystem

content

  • BingX integrates institutional liquidity solution by WOO Network
  • 300 new spot pairs added to BingX: Check out the assets

BingX, a multi-platform ecosystem for crypto trading, advances its liquidity model with a new partnership. With the new partnership, newcomers and existing users will enjoy negligible latency and reduced fees.

BingX integrates institutional liquidity solution by WOO Network

According to the official announcement shared by BingX, a top-tier cryptocurrencies trading ecosystem, it has entered into a partnership with Woo Network, an industry-grade liquidity solution.

BingX partners Woo NetworkImage by BingX

Through its patented B2B solution, Wootrade, Woo Network helps cryptocurrency exchanges to solve issues with liquidity by providing them with access to external liquidity pools.

Wootrade’s range of assets grows day by day. Currently, its ecosystem processes almost $600 million in daily trading volume during periods of peak activity.

Ran Yi, chief of ecosystem development at WOO Network, stresses that the new integration will connect the BingX community to an industry-scale “liquidity support” mechanism in a seamless, decentralized and secure way:

WOO Network is excited to explore providing liquidity to BingX, a platform that plays a very innovative role in bringing crypto-asset trading to the global stage. BingX’s focus on compliance and security makes them an ideal partner to develop new markets and bring more volume to our network.

Integration with Wootrade will result in more advanced trading experience for all users, in particular regarding speed of transactions and pricing.

300 new spot pairs added to BingX: Check out the assets

Elvisco Carrington, global communications director at BingX, outlined that the new partnership is a natural phase of BingX’s expansion that follows the massive increase in its range of assets:

Recently, we’ve been adding several coins on our platform which we are happy to say has led to a spike in our daily average trading volume. That being said, it is critical that liquidity becomes a frontrunner at this juncture. BingX is continuously working to create a trading environment that minimizes market volatility as much as possible. By partnering with Woo Network, we are confident that we are better able to achieve this goal.

For instance, BingX opened spot trading for veteran cryptocurrencies OMG Network (OMG), Stellar Lumens (XLM) and red-hot DeFi altcoins YFI, HODL and RAD.

As covered by U.Today previously, BingX recently added the Spot Grid automated trading module to advance the digital assets experience for newcomers and no-coiners.


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