NEW DELHI: OKX, which not too long ago turned the second largest cryptocurrency alternate on this planet by spot buying and selling quantity, on Tuesday introduced rebranding itself as a cross-platform providers supplier.
Based in 2017 as a cryptocurrency buying and selling service, OKX has since amassed over 20 million customers and expanded its suite of digital asset investing merchandise to incorporate OKX Earn, a software for incomes passive crypto earnings; an NFT market and decentralised utility discovery hub; and most not too long ago, MetaX, OKX’s new decentralized mode that includes a cross-chain dashboard and self-custody Net 3.0 pockets for storing digital belongings, together with NFTs, in accordance with a press launch.
This shift, as highlighted by the corporate’s identify change from OKEx to OKX, displays the platform’s rising variety of wealth creation alternatives past the alternate, which buyers use to commerce tons of of digital belongings on spot, margin and derivatives markets.
OKX goals to allow entry to decentralised belongings and instruments and provides buyers the choice of self-custody of their digital belongings.
“OKX is shifting past the usual centralised alternate mannequin to present our prospects an end-to-end cryptocurrency expertise,” stated Jay Hao, CEO of OKX. “Most significantly, we’re doing this whereas upholding the core ideas of crypto — decentralization and autonomy. Our purpose is to present prospects the instruments they should simply and securely earn, switch, and spend their wealth as they see match, with out intermediation from us. We’ve dropped the “E” from our identify as a result of we’re a lot greater than an alternate, identical to crypto is a lot greater than a speculative asset.”
OKX, which lists over 250 digital belongings and has lengthy held the highest rank for cryptocurrency futures buying and selling volumes, not too long ago turned the second largest cryptocurrency spot buying and selling platform on this planet. In 2021, whole buying and selling quantity on the platform, together with spot and derivatives devices, grew over 700%, whereas the variety of trades executed on the platform elevated over 480%. Staking, financial savings and DeFi choices through OKX Earn noticed over $5.1 billion deposited by customers, and paid out over $314 million in passive earnings this previous yr, as per the press launch.
Supply: Live Mint