Fintech solutions provider, Broctagon Fintech Group, has launched WorldBook, a global crypto movement focused on solving key liquidity issues plaguing the industry. WorldBook is the world’s first crypto STP (Straight-Through Processing) network with the largest aggregated liquidity pool. The initiative aims to introduce a universal standard of liquidity for digital assets, uniting both processes and technology within the crypto industry under a single framework. The eponymous WorldBook combines the orderbooks of all connected exchanges to create a unified orderbook that enables multilateral liquidity flow. Instead of being confined to local orderbooks which may represent less than 1% of the total industry, exchanges now gain access to 85% of the market. This is made possible by the NEXUS 2.0 aggregator, the driving engine that powers the WorldBook with SOR (Smart Order Routing), which allows for global price discovery and best bid and offer.
“Despite the gaining acceptance of crypto, it remains a “wild west” with no dominant technology or standard in which it operates. 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.” said Don Guo, Co-Founder and CEO, Broctagon Fintech Group highlighting the issues. “We engineered the WorldBook infrastructure taking a page from the fundamentals of FX interbank liquidity. With our experience as a regulated FX liquidity provider, we believe the Prime of Prime (PoP) model has the potential to disrupt the industry and increase crypto trading volumes by more than 400% in the near future.”
