WOO X Onboards Wintermute as Crypto Liquidity Provider

WOO Network (WOO) announced on Tuesday (December 12) that its centralized exchange, WOO X, has added Wintermute to the crypto liquidity pool. Wintermute is a leading global algorithmic trading firm and liquidity provider in digital asset markets.

As of August this year, WOO X has been actively onboarding industry-leading liquidity providers and introducing sustainable and competitive market maker incentives, in a move to eliminate dependence on any single liquidity provider.

The partnership with Wintermute is part of WOO X's proactive and transparent effort to reshape its business model.

"Wintermute's commitment to creating efficient and liquid markets in digital assets aligns with WOO X's focus on superior execution and advanced trading features. Our expertise in providing robust liquidity complements this collaboration grounded in our shared commitment to transparency, which is critical to building trust in centralized crypto trading products," said Evgeny Gaevoy, CEO and co-founder of Wintermute.

"In addition to being well-known for their technical aptitude, Wintermute has always impressed with their pursuit of innovation as it relates to decentralization of infrastructure and governance. These two areas are core to our mission at WOO, so naturally, we believe that our synergy can create a positive environment for both businesses and communities," stated WOO Co-founder Jack Tan.

In October, Fazzaco reported that WOO Network has agreed to a deal with Teneo​, the liquidator of bankrupt hedge fund Three Arrows Capital (3AC), to repurchase shares and tokens it sold in 2021.