OKEx – Kuwait Financial Express http://www.kuwaitfinancialexpress.com Wed, 17 Nov 2021 16:49:20 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.2 OKEx reveals over 300% growth in trading volumes this year http://www.kuwaitfinancialexpress.com/okex-reveals-over-300-growth-in-trading-volumes-this-year/ Wed, 17 Nov 2021 16:49:20 +0000 http://www.kuwaitfinancialexpress.com/?p=305740 VICTORIA, Seychelles, Nov. 17, 2021 (GLOBE NEWSWIRE) — OKEx "" a top cryptocurrency exchange and DeFi ecosystem "" today reported 308% growth in total trading volumes over the past year. OKEx's total trading volume of all listed assets grew from $1.8 trillion in October 2020 to $7.4 trillion as of October 2021.

Breaking down this massive growth, perpetual swap products on OKEx saw the highest increase, with trading volume growing by 455% year–over–year. Cryptocurrency spot and futures products also saw impressive growth in terms of trading volumes "" up 365% and 209%, respectively.

In October 2021, BTC, DOGE, SHIB, OKB, ETH and SOL were among the top–10 assets with the highest trading volumes on OKEx spot markets. Total spot trading volumes for the 10 assets combined reached a monthly high of over $6.5 billion, which reflects increasing industry–level interest in dog–themed memecoins, as well as decentralized finance.

OKEx's notable growth in trading volumes is accompanied by the firm's market–leading push into the DeFi, GameFi and nonfungible token (NFT) spaces. This fall, OKEx launched a DeFi mode on both its website and mobile app, featuring a bespoke Web 3.0 wallet, as well as an NFT Marketplace and play–to–earn crypto gaming center. The platform also recently launched an advanced trading feature, portfolio margin, specifically designed to improve capital efficiency for professional and institutional traders.

"We are extremely pleased to witness this positive growth trajectory over the past year," said OKEx CEO Jay Hao, adding:

"This would not have been possible without the support from our valued customers "" the trusted OKEx family. In the past year, we upheld our commitment to better serve our customers with the launch of various offerings, including the new DeFi mode on OKEx, which includes a self–custodial, decentralized wallet, as well as an NFT Marketplace and blockchain game center.

To cater to institutional and professional traders, a CME–like portfolio margin system was introduced as part of our efforts to build the world's most powerful trading platform for crypto traders. As we celebrate our fourth anniversary, we look forward to expanding our offerings and further growing our family in the global markets."


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OKEx launches CME-like portfolio margin system for the crypto industry http://www.kuwaitfinancialexpress.com/okex-launches-cme-like-portfolio-margin-system-for-the-crypto-industry/ Mon, 01 Nov 2021 17:23:50 +0000 http://www.kuwaitfinancialexpress.com/?p=305725 VICTORIA, Seychelles, Nov. 01, 2021 (GLOBE NEWSWIRE) — OKEx has announced the launch of a new advanced trading mode for professional and institutional traders "" portfolio margin "" as part of its efforts to build the world's most powerful trading platform for crypto traders. The new trading mode is available on the platform's web and API versions for high–volume traders as of today, Nov. 1.

Portfolio margin on OKEx is designed for high–volume professional traders, including market makers and institutions, looking to substantially reduce their capital requirements. The mode offers traders "" and especially market makers for cryptocurrency futures and options "" significantly reduced margin calculation. Notably, OKEx sees this new feature as a way to address the current problem of fragmented liquidity across crypto options markets.

A risk management system similar to portfolio margin "" standardized portfolio analysis of risk, or SPAN "" was first pioneered for traditional finance participants by the world's largest derivatives exchange, CME Group. With the release of the new portfolio margin mode on OKEx, the platform is leading the way in the cryptocurrency industry by introducing this powerful tool for capital efficiency enhancement and risk management.

OKEx's version of this trading mode stands out from competitors by allowing for multiple–currency portfolio margining "" meaning that a trader can open derivatives positions with significantly reduced margin requirements across multiple currencies at the same time.

With its new portfolio margin mode, alongside industry leading liquidity, OKEx is showing its commitment to providing the most advanced tools and best possible trading experience for its customers.

About OKEx

Founded in 2017, OKEx is one of the world's leading cryptocurrency spot and derivatives exchanges. OKEx has innovatively adopted blockchain technology to reshape the financial ecosystem and offers some of the most diverse and sophisticated products, including our recently launched DeFi ecosystem and NFT Marketplace.

Trusted by more than 20 million users in over 180 regions across the globe, its mission is to empower every individual through the promotion and advancement of cryptocurrencies globally.

Andrea Leung
andrea.leung@okex.com


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OKEx accelerates NFT adoption with DeFi Hub, NFT Marketplace http://www.kuwaitfinancialexpress.com/okex-accelerates-nft-adoption-with-defi-hub-nft-marketplace/ Thu, 02 Sep 2021 11:00:00 +0000 http://www.kuwaitfinancialexpress.com/?p=306166 VICTORIA, Seychelles, Sept. 02, 2021 (GLOBE NEWSWIRE) — OKEx (www.okex.com), a leading global cryptocurrency spot and derivatives exchange, today announced the launch of a decentralized digital asset ecosystem, DeFi Hub. The platform currently features two core products: NFT Marketplace and DeFi Dashboard.

The NFT Marketplace is an end–to–end NFT platform built to empower creators and inspire collectors. Via the platform, anyone can buy, sell and trade NFTs directly, with zero fees paid out to OKEx. What makes NFT Marketplace even more unique is that anyone can use the platform to mint their own NFTs of any kind, using the OEC or Ethereum blockchains.

Newly minted NFTs will be available for sale on NFT Marketplace and creators are given the flexibility to set their own royalty fees. Signalling OKEx's commitment to protecting the interests of creators, royalty fees for creators are then paid out to them in every subsequent transaction on NFT Marketplace's secondary market. The NFT Marketplace also lets users import NFTs that have been generated on other supported platforms.

DeFi Hub also offers a way to view and manage decentralized assets across major blockchain networks and DeFi protocols. The DeFi Dashboard displays both a full portfolio view, as well as a separate view for digital collectibles.

“The NFT market is growing rapidly in popularity, creating a need for a comprehensive system for managing NFTs,” said OKEx Director Lennix Lai in a statement. He continued:

“With DeFi Hub, we've created an NFT Marketplace that will accelerate NFT adoption by making it easier than ever for anyone to create, exchange, and sell NFTs. We're also thrilled to launch DeFi Dashboard to bring much–needed improvements to users' visualizations of their cryptocurrency portfolios.”

About OKEx

Founded in 2017, OKEx is one of the world's leading cryptocurrency spot and derivatives exchanges. OKEx has innovatively adopted blockchain technology to reshape the financial ecosystem and offers some of the most diverse and sophisticated products, solutions and trading tools on the market. With its extensive range of crypto products and services, its unwavering commitment to innovation, and its local operations to serve its users better, OKEx strives to eliminate financial barriers and realize a world of financial inclusion for all.


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