WorldBook is Fintech company Brotagon’s solution to creating a global order book for the crypto industry.
Fintech solutions provider Broctagon Fintech Group has launched WorldBook, the world’s first ever global crypto movement focused on solving key liquidity issues within the crypto industry.
Specialising in multi-asset liquidity, brokerage technology, and enterprise blockchain development, the latest initiative by Broctagon hopes to create a global orderbook that unifies the different cryptocurrency exchanges to allow multilateral liquidity flow. Don Guo, Co-Founder and CEO of Broctagon Fintech Group, states that the idea for WorldBook came about due to the fragmented trading landscape of crypto exchanges with significant price disparity.
To establish itself as the universal standard of liquidity for cryptocurrencies, WorldBook uses a cryptocurrency Straight-Through Processing (STP) network with Broctagon’s proprietary technology NEXUS 2.0 liquidity aggregator, which is supposedly able to process more than 100,000 orders per second. With Smart Order Routing (SOR) made possible by the liquidity aggregator, it allows the network to source for the best bid and offer globally.
“Liquidity challenges exist for newer and established exchanges alike. The former requires extensive capital for marketing to capture enough users for a liquid orderbook while the latter often pay hefty fees for external market maker services to drive profitability. WorldBook is a solution for both. With universal prices and unprecedented depth, exchanges can focus on other aspects of the business to bring further value to their clients.” said Don Guo.
As Singapore increase regulations in the cryptocurrency industry, it is looking to move exchanges operating in Singapore towards greater compliance and taking a stern stance towards companies that flout PSA regulations. Broctagon hopes to support the national move and propel the local cryptocurrency industry towards regulatory compliance, adoption, and maturity with WorldBook.
“We recognize how a standardized framework for liquidity can ensure steady supply and demand for our clients. It is a pleasure to work with the WorldBook, and we shall support them as they look to introduce cohesive standards for the entire industry and elicit greater public adoption of cryptocurrency,” said Weber Woo, CEO of digital assets platform XT Exchange.
Broctagon also aims for WorldBook to be an open initiative to forge greater collaboration among companies within the cryptocurrency industry. Its members include Huobi Group, BitKub, Horangi Cypnopsis, and Hodlnaut.