• APRObit will be the first exchange in South Korea to adopt Bitfinex’s joint order book system, which shares the market depth of Bitfinex’s BTC, ETH, and USDT trading pairs
• APRObit will be the only exchange in Korea that enables traders to access the markets of an international exchange
• The exchange will go live in March 2020
• APRObit is invested and advised by Zhao Dong, Bitfinex shareholder and founder of Renrenbit, and Andy Cheung, ex-COO of OKEx, current CEO of Bitwork and founder of ACDX
• The exchange has formed an alliance with Genesis Block, RenRenbit, and AAIL (Applied Artificial Intelligence Laboratory)
APRObit to Bring Joint Order Book System to South Korea
APRObit, a new South Korean cryptocurrency exchange, will go live in March and it will adopt the joint order book system of Bitfinex, one of the world’s largest cryptocurrency exchange.
Park Jae-Soon, the founder of Tokenman, South Korea’s first IEO exchange, will serve as the Chairman of the new exchange. Park has tremendous experience in the cryptocurrency industry. He is a cryptocurrency business strategist and he had served at Bitman, South Korea’s largest cryptocurrency community.
Under the acceleration of Bitwork, a blockchain consultancy led by Andy Cheung, APRObit comprises of a strong advisory board, formed a global alliance of blockchain companies, and found the solution to the challenge of order book liquidity, which is a major concern to new-established exchanges.
Chinese billionaire Zhao Dong, who is a Bitfinex shareholder and the founder of Renrenbit, a peer-to-peer lending platform, and also tech entrepreneur Andy Cheung, the ex-COO of OKEx, and now the CEO of Bitwork, a blockchain consultancy, and founder of ACDX, a derivatives cryptocurrency exchange, are both the investors and advisors of APRObit.
APRObit is the first exchange in South Korea to adopt Bitfinex’s joint order book system, which will enable its users to access one of the world’s most liquid marketplaces1. According to Park, this will solve the liquidity problem that most new exchanges are facing at the beginning stage of their businesses.
As Upbit has ended its order book partnership with Bittrex, APRObit will be the only cryptocurrency exchange available in South Korea that shares the market depth of an international exchange.
Being fully compliant with FATF (Financial Action Task Force) guidance, APRObit will offer a low base trading fee of 0.05%, which can be discounted up to 100% using its native token, APRO token. Both Fiat-to-crypto and crypto-to-crypto trading will be available on the platform.
APRObit is jointly developed by a global alliance of venture capitals, fit-tech companies, security firms, and various associations, which includes Genesis Block – Asia’s largest crypto ATM and OTC company, Renrenbit – developer of crypto wallets holding over 20,000 BTC assets, and AAIL (Applied Artificial Intelligence Laboratory) – a professional organization of machine learning algorithms and AI architectures. This alliance will help the exchange in global expansion in the future and build a sustainable blockchain ecosystem.
Jae-Soon Park, Chairman of APRObit, said, “We will provide Korean traders with a new trading experience which is built by an alliance of global companies. APRObit will serve as a bridge between South Korea and global cryptocurrency markets.“
(2020.02.12) South Korean Crypto Exchange APRObit Adopts Bitfinex Joint Order Book System, Launching in March
retrieved from https://btcmanager.com/south-korean-crypto-exchange-aprobit-adopts-bitfinex-joint-order-book-system-launching-in-march/?q=/south-korean-crypto-exchange-aprobit-adopts-bitfinex-joint-order-book-system-launching-in-march/&q=/south-korean-crypto-exchange-aprobit-adopts-bitfinex-joint-order-book-system-launching-in-march/&q=/south-korean-crypto-exchange-aprobit-adopts-bitfinex-joint-order-book-system-launching-in-march/&nonamp=1