BTSE Announces Strategic Partnership With Wootrade

In another reputable announcement, we are pleased to share to BTSE users that a strategic partnership has been built with Wootrade. Created by Kronos Research, one of the leading quantitative trading firms, Wootrade is a trading platform designed to give an edge to liquidity and spreads compared to the majority of exchanges without fees.

Wootrade Partnership

Founded in 2019, Wootrade was created with the vision of offering a top of the line trading platform experience by making liquidity as optimal as possible. Last year, Wootrade created an API to help connect exchanges and other trading platforms to their system. They operate in the form of a “trading infrastructure” which is otherwise known as an Alternative Trading System (ATS)

Wootrade aggregates liquidity and offers sufficient trading depth for B2B clients with zero fees. Wootrade helps exchanges, professional traders, and institutions gain the greatest competitive advantage in the cryptocurrency retail market. In January of 2021, over $1.1 billion of institutional trading volume was conducted on the network.

Founded in 2018 and powered by a custom built from the ground up matching engine, BTSE brings institutional-grade trading technology to the world of cryptocurrency. The platform acts as a bridge between the existing financial system and the digital money of tomorrow. BTSE is capable of handling over a million order requests per seconds and stores 99.9% of customer funds in cold storage. Built by traders for traders, BTSE Exchange offers a suite of financial services which extend the capabilities of digital assets including asset management, exchange, OTC, lending, a debit card, whitelabling, and defi products.

Benefits of Wootrade and BTSE

BTSE will take advantage of Wootrade’s liquidity pool to tighten spreads and give better execution price for users. Additionally, to give Wootrade’s native token (WOO) more exposure, BTSE will add it to its spot trading list. 

The Wootrade Network is designed to handle crypto liquidity regardless of the size of the trade. As Wootrade provides a gateway to their network of liquidity, exchanges can automate  backend-related operations such as internal market making. In short, clients can have a  custodian for their liquidity, allowing the exchange to focus primarily on end-user enhancement such as security, new features, and community building, without the need to maintain internal order books and market makers..

Wootrade is able to accomplish high-quality liquidity through a number of factors:

  • Liquidity Flow Providers (LFP): this provides the places where assets are drawn from that can provide liquidity. This is like drawing water from a water source. Examples of LFPs are commonly exchanges but also include wallets and trading systems. The importance of LFPs is to execute prices as the most reasonable rate.
  • Market Makers (MMs): these help match a buyer with a seller. While LFPs try to exchange for the most appropriate deal, MMs just want to strike a deal in order for buys and sells to be generated – thus providing liquidity.
  • Zealous Rhino Staking program: Trading institutions, high frequency traders (HFTs) and professional traders can connect directly to the network, bringing high volumes with reduced fees, provided they stake significant quantities of WOO tokens.

All of these ensure that a user gets the quote for a trade as close to market value as possibl

BTSE is happy to be part of this integration.

As a result of this, BTSE will be joining the Wootrade Network which allows BTSE to take advantage of this liquidity system and staking. BTSE in return will be able to offer better market pricing.

Summary 

BTSE and Wootrade together will be able to provide a better system for liquidity that benefits crypto as a whole. By using the Wootrade Network, this allows BTSE to connect to LFPs and MMs that can create better market prices that will benefit BTSE users. The WOO token will be made available on the BTSE platform, ensuring our users can also take advantage of Wootrade directly in addition to their work behind the scenes.

We are genuinely excited to have this strategic partnership with Wootrade and to always give our users the best experience possible.

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Our aim is to create a platform that offers you the most enjoyable trading experience. If you have any questions of suggestions, please don’t hesitate to reach out to us at feedback@btse.com or DM us on Twitter @BTSEcom

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