OKEx Secures Support From Four New Partners for Its Utility Token OKB

Malta-based cryptocurrency exchange OKEx has secured support from four new partners, including hardware crypto wallet Ledger, for its utility token OKB.

OKEx announced the news in a press release shared with Cointelegraph on Nov. 22, detailing that it had partnered with Ledger, Vietnam-based over-the-counter exchange Aliniex, fiat-to-crypto exchange Bvnex, and virtual blockchain-powered retailer Cryptomall.

Bringing crypto trades into the mainstream

The collaboration is aimed at moving the OKB ecosystem into the mainstream, as well as making it more comprehensive for its global user base. The company specified in the release, that OKB will be listed on Ledger’s hardware crypto wallet, Aliniex and Bvnex. Aliniex, which enables users to purchase and sell digital currency with Vietnamese Dong (VND), will also support OKB/VND trades.

Cryptomall — a marketplace that maintains transaction records on the blockchain — will now accept OKB, thus giving OKEx users’ access to more than 1 million products. Andy Cheung, head of operations at OKEx, said that the partnerships will “expand OKB’s utility, making it easier for traders to participate in the cryptocurrency markets all over the world.”

OKEx’s other recent developments

Earlier in November, OKEx launched Bitcoin (BTC) futures contracts that are margined with the Tether (USDT) stablecoin. Previously, OKEx announced its intention to launch USDT-settled futures trading with up to 100x leverage at the end of October. After conducting a simulation that began on Nov. 5, the exchange listed the BTC/USDT offering on its trading platform.

In late October, OKEx announced that it was joining Klaytn, a global public blockchain platform developed by Kakao subsidiary Ground X. The exchange called this partnership an opportunity to build a stable blockchain ecosystem and connect to different networks and portfolios in the blockchain industry.