OKEx Adds GBP and THB to its OTC Trading Platform

OKEx, a digital asset exchange based in Malta, announced this Wednesday morning that it has launched two new currencies on its over-the-counter (OTC) Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term - Thai baht (THB) and British pound (GBP).

With the launch of the two new currencies, users in both Thailand and the United Kingdom can now complete the Know Your Customer (KYC) Know Your Customer (KYC) Know Your Customer (KYC) is the process via which the broker is verifying the true identity of its clients in order to comply with multiple regulations. KYC is used to assess the suitability of customers when it comes to anti-money laundering regulations, any type of financial fraud and determining whether they are potentially risky for the brokerage.In particular, KYC guidelines in financial services mandate that individuals make a cohesive effort to verify the identity, suitability, and risks Know Your Customer (KYC) is the process via which the broker is verifying the true identity of its clients in order to comply with multiple regulations. KYC is used to assess the suitability of customers when it comes to anti-money laundering regulations, any type of financial fraud and determining whether they are potentially risky for the brokerage.In particular, KYC guidelines in financial services mandate that individuals make a cohesive effort to verify the identity, suitability, and risks Read this Term) verification to be eligible to trade on the OTC trading platform, which is also referred to as a fiat-to-cryptocurrency platform.

Via the OTC trading platform, customers can place orders with their chosen payment method and self-selected exchange rate to buy or sell digital financial assets with fiat currencies.

On the trading platform, customers can now trade the THB and GBP against Bitcoin (BTC), Tether (USDT), Ethereum (ETH) and Litecoin (LTC). In addition, the platform also facilitates global digital assets trading with the Vietnamese Dong (VND) and Chinese Renminbi (CNY) fiat-to-cryptocurrency markets. The exchange plans to add further currencies this year, the statement released today said.

Celebrate the launch of Thai Baht (THB) & British Pound (GBP) OTC markets with us.

Join OKEx today to get a welcome bonus of up to 50 USDT! Details: https://t.co/zu0M4P4Isc •UK & Thai users exclusive pic.twitter.com/wjvq6ZSIUY — OKEx (@OKEx) 23 January 2019

Commenting on the new currencies, Andy Cheung, OKEx's Head of Operations said: "Our mission is simple at OKEx. We aim to offer flexibility and convenience to our traders. Thailand and the UK own the fastest growing crypto communities in the world. We see great potential in these two markets and want to support the needs there."

“Because of the increasing trading volume and number of traders in these two countries, we decided to launch the new THB and GBP trading services on our OTC trading platform. Wherever the market potential locates, we will expand to there. In 2019, you can expect more currencies will be supported on OKEx.”

OKEx expands perpetual swap products

The news comes a few weeks after OKEx revealed that it had added seven new trading products to its cryptocurrency derivative product, a no-expiry Bitcoin derivative known as a “perpetual swap.”

Now, in addition to BTC, users can trade perpetual swaps contracts for Bitcoin Cash (BCH), Bitcoin SV (BSV), EOS (EOS), Ethereum Classic (ETC), ETH, LTC, and Ripple (XRP). However, these contracts will only support 40x leverage, as Finance Magnates reported.