Wowoo Exchange(WWX), a Singapore-based cryptocurrency Exchange backed by Wowoo, updated its project paper, according to its website.
WWX is aiming at a truly global and compliant digital assets platform via partnering with various regulated Exchanges in the form of JVs and franchises to provide pair-trading of all digital assets for users in a cost-effective manner.
WWX will also try keeping the trading liquidity via partnering with regulated Exchanges and market makers for users to make an order in any fiat currency and digital assets.
Major cryptocurrencies such as BTC, ETH NEO, and other ERC20 tokens, along with Wowoo’s group tokens like WWB, ZenCash, and Four Nine would be planned as trading currencies.Wowoo Exchange also plans issuing NEO-based WWX token and its token holders are able to receive various discounts for trading.
WWX is aiming at generating revenues via Exchange Fee, Withdrawal Fee, Listing Fee, and Margin Fee.
As for KYC, WWX aims to provide a “Global KYC platform” with providing a secured one-stop KYC process, based on AML/KYC, via partnering with advisors and lawyers in relevant jurisdictions.
While implementing global-based smart contract, WWX is aiming at reaching users in under-developed countries as its future strategies.