Exchange Union, a new initiative of Huiyin Blockchain Venture Founder James Wo to bridge exchanges via a new inter-exchange trading token XUC, has received support from Asian digital currency exchanges Unocoin, Coinhako, and CHBTC.

According to the official release, Exchange Union will act as an efficient clearing house for exchanges bringing them extra revenue, whilst traders can take advantage of price differences between platforms moving funds seamlessly between them. It would encourage the union of exchanges through the XUC token – a ‘universal coin’ that can be widely accepted and circulated and allows efficient inter-exchange trading.

Sathvik Vishwanath, co-founder of leading bitcoin exchange of India Unocoin, said:

"Exchange Union is a great project in terms of business model, core members and advisors. I believe that forward-looking companies would seek the opportunity to cooperate with Exchange Union. The development of Exchange Union will definitely have profound impact on global digital currency industry and we will keep supporting them."

Yusho Liu, co-founder of Singapore-based Coinhako, said that he began seeking cooperation with global, high-quality ICO projects and it was Exchange Union that attracted his attention. Liu noted the strength of Exchange Union's credible core members and reputable advisors. Yusho has shown strong confidence in this project following discussions with Wo.

David Lee, co-founder and CEO of CHBTC, also reached out to Wo to show his interest in the project stating that he would do his best to support Exchange Union.

The first batch of Exchanges in the Union will sign agreements this December and XUC will be traded across exchanges in the Union, the release said. This project will be launched on the largest ICO platform Token Market, starting from 7th August 2017 at 9:00 PM Beijing time. Funds raised will be used for technique development, strategic investment operation marketing, and launching fees.

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