Bitcoin
$66,822.09+0.82%
Ethereum
$3,243.04+1.60%
Binance Coin
$606.75+1.71%
Solana
$157.29+2.03%
XRP
$0.54763632+2.31%
Dogecoin
$0.16073951+0.40%
Toncoin
$5.67-7.13%
Cardano
$0.51128693-0.29%
Shiba Inu
$0.00002707+0.39%
Avalanche
$39.05+0.16%
Wrapped Bitcoin
$66,873.37+0.75%
Polkadot
$7.45+0.40%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Countdown to Consensus 2024The largest and longest running event that covers all sides of Crypto and Web 3
35
DAYS
21
HR
26
MIN
44
SEC
Finance

Crypto Exchange WOO Network Closes $30M Series A

WOO Network is betting on deep liquidity to break into the crypto exchange landscape.

By Eliza Gkritsi
AccessTimeIconNov 9, 2021 at 2:00 p.m. UTC
Updated May 11, 2023 at 7:04 p.m. UTC
Dollars (Shutterstock)
Dollars (Shutterstock)
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Crypto exchange WOO Network closed a $30 million Series A round of funding from various investors, including Singapore-based Three Arrows Capital, according to a press release shared with CoinDesk.

  • The round was oversubscribed by 200%, the press release said.
  • WOO Network describes itself as a “deep liquidity network” and aims to provide “best-in-class liquidity” and connect traders, centralized exchanges, institutions and decentralized finance (DeFi) platforms.
  • Deep liquidity and zero-fee trading will help the startup make its mark on the competitive crypto exchange market, Three Arrows Capital co-founder Su Zhu said in the press release.
  • WOO Network started with WOO Trade, a platform for institutional investors, and launched retail-focused WOO X in August. WOO X offers zero-fee trading, aggregates market depth from other exchanges to achieve liquidity and sets up a liquidity pool with market makers and liquidity providers, according to a press release.
  • Daily trading volume on WOO platforms has grown from $20 million in early 2020 to an all-time high of $2.6 billion in mid-September, the press release said.
  • PSP Soteria Ventures, Gate Ventures, QCP Capital, Crypto.com Capital, the Avalanche Asia Star Fund (AVATAR), AscendEX, AntAlpha, MEXC Global, LBank, Fenbushi Capital, BitMart, 3Commas Capital, TokenInsight Research and ViaBTC Capital also participated in the round.
  • WOO Network said it will use the funds to set up a research and development office in Warsaw, Poland, and for staffing and product development.
VolumeMuteUnmute

Speculation Keeps the Market Honest: Analyst

  • Traders Are 'Valuable Resource' for Crypto Market: Analyst
    06:08
    Traders Are 'Valuable Resource' for Crypto Market: Analyst
  • Kraken Incoming CEO on Company Culture, Future Plans as Jesse Powell Steps Down
    13:21
    Kraken Incoming CEO on Company Culture, Future Plans as Jesse Powell Steps Down
  • Former CFTC Chair ‘Very Concerned’ About Funding for Crypto Regulation
    03:28
    Former CFTC Chair ‘Very Concerned’ About Funding for Crypto Regulation
  • Coinbase Phasing Out ‘Coinbase Pro’ for ‘Advanced’ Mode in Main App
    06:52
    Coinbase Phasing Out ‘Coinbase Pro’ for ‘Advanced’ Mode in Main App

    • Read more: Poland’s Largest Crypto Exchange Revamps to Go License Shopping

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Eliza Gkritsi
    Eliza Gkritsi

    Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.

    Follow @egreechee on Twitter

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.