Broctagon onboards several firms to new crypto liquidity ecosystem, WorldBook
Broctagon offers turnkey solutions for brokers, including aggregator technology, brokerage technology solutions, and enterprise blockchain development.
Broctagon has launched the NEXUS WorldBook, a crypto liquidity ecosystem, committed to building a cohesive network for both makers and takers.
The WorldBook leverages the proprietary NEXUS 2.0 aggregator technology to offer its members global price discovery and direct STP capabilities on a universal liquidity standard.
Combining the order books of all connected crypto exchanges, the network will be able to streamline cryptocurrency prices with global price discovery and best bid and offer.
Don Guo, co-founder and CEO of Broctagon, said: “Despite the gaining acceptance of crypto, it remains a ‘wild west’ with no dominant technology or standard in which it operates.
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“With the WorldBook’s price aggregation, we found that bitcoin had an average negative spread of USD$10, even amongst the major exchanges. This means that with over USD$15.5 trillion in trading volume over the past year, traders could have saved USD$5.7 billion in spreads and this is for bitcoin alone, which is already the most efficient and liquid digital asset. The price disparity could only be worse for the thousands of altcoins across many smaller exchanges.”
Several leading firms within the cryptocurrency space have joined the inter-exchange liquidity network since August 2021, including Archax, the FCA-regulated, digital asset exchange, brokerage, and custodian based in London.
Simon Barnby, CMO of Archax, said: “Archax has built its niche working in highly regulated markets. This has enabled us to acquire a deep understanding of the blockchain and DLT landscape as well as a vision of how to evolve and transparently open up digital assets to institutions. As the only FCA-regulated digital securities exchange, we are excited to be working with WorldBook to continue our journey to enable the onset of mass digital asset acceptance.”
Ted Quek, CTO of Broctagon Fintech Group, commented on Archax’s participation on the WorldBook network, saying: “Archax’s extensive portfolio encompasses investment, trading, listing and digital asset custody. Their work and experience with both institutional investors and regulatory bodies will help paint a clearer picture of the latter’s expectations, and we are thrilled to have them onboard the movement.”
Other members of WorldBook include RegTech firm Cynopsis Solutions, cybersecurity firm Horangi, “social infused exchange” XT Exchange, crypto lending platform Hodlnaut, digital asset exchange BTSE, white-label software firm AlphaPoint, and most recently wallet provider ParallelChain.
Broctagon Fintech Group is a multi-asset liquidity and technology provider headquartered in Singapore with over 10 years of established global presence in China, India, Russia, Cyprus, Hong Kong, Thailand and Vietnam.
Broctagon offers turnkey solutions for brokers, including aggregator technology, brokerage technology solutions, and enterprise blockchain development.
