WOO Network has announced the completion of its $30M Series A with backing from Three Arrows Capital, PSP Soteria Ventures, Gate Ventures, QCP Capital, and Crypto.com Capital. The round saw investors across core pillars in the industry: trading institutions, exchanges, venture funds, and research firms such as AscendEX, AntAlpha, MEXC Global, LBank, Fenbushi Capital, BitMart, 3Commas Capital, TokenInsight Research, AVATAR (Avalanche Asia Star Fund), and ViaBTC Capital.
“While the exchange landscape is growing more competitive, WOO X is poised to make a mark with its deep liquidity coupled with lower to zero-fee trading – these two propositions are phenomenally useful for institutional and retail traders to achieve superior trading execution,” said Su Zhu – Co-Founder at Three Arrows Capital.
“It is remarkable what WOO X was able to achieve shortly after its launch – top trading experience by combining the best of market depths, trading spreads, and competitive trading fees. We look forward to their upcoming futures trading release, guiding their product development with our expertise in spot, derivatives, and options trading and helping them to grow into the ultimate trading platform they envision to be,” added Darius Sit – Founder and Chief Investment Officer at QCP Capital.
“While WOO X remains the flagship CeFi exchange product of WOO Network, the fundraise allows us to set our sights further and venture deeper into the DeFi space through our suite of swapping and yield-generating products under WOOFi. These efforts will further extend the network’s vision of providing the best-in-class liquidity, trading execution, and yield-generating strategies at lower to no cost across CeFi and DeFi,” commented Jack Tan, Co-Founder of WOO Network.
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