OKEx cryptocurrency exchange is developing its own blockchain and decentralized exchange, according to a blog published on March 22.
OKEx is developing its own blockchain, dubbed “OKChain”, which are now supposedly in the final stage of development. The company expects to release testnet in June of this year. OKChain will also serve as the basis for the decentralized exchange of OKEx.
In addition, the report states that the OKB native token utility OKB will be placed on the ERC-20 blockchain by the end of April and will be transferred to the OKChain network as soon as OKChain becomes stable. It is reported that OKB will also be used for token pre-sale.
In February, OKEx launched support for Thai bat-crypto trading on its client-client platform, with only Bitcoin (BTC), Tether (USDT), Ethereum (ETH) and Litecoin (LTC) trading with Thai Baht on a peer-to-peer exchange platform.
Star Xu, founder of stock exchange provider OKCoin and OKEx, bought a controlling stake in Leap Holdings, construction engineering firm Caymans Island, which is listed on the Hong Kong Stock Exchange.
Last December, OKEx launched a new crypto-derivative product called Perpetual Swap, which allows users to speculate on the future value of Bitcoin / USD, according to the OKEx index. It is reported that OKEx eternal swaps do not expire, which means “positions can be held indefinitely.”
OKEx is currently the world's eight largest cryptocurrency exchanges for adjusted daily trading volumes, seeing about $ 615 million in trading per day during printing.