OKX overtakes global crypto exchanges, becomes the second largest exchange
The new OKX branding – formerly OKEx – highlights the platform’s robust suite of crypto, NFT and DeFi investment products.
SEYCHELLES, January 18, 2022 – OKX – recently became the second-largest cryptocurrency exchange in the world by spot trading volume – today announced a company-wide rebrand that reflects the momentum and acceleration of currency adoption. Founded in 2017 as a cryptocurrency trading service, OKX has since attracted over 20 million users and expanded its suite of digital asset investment products, including OKX Earn, a tool for generating passive cryptocurrency income; a decentralized NFT marketplace and application discovery center; and most recently MetaX, OKX’s new decentralized mode with a cross-chain dashboard and self-managed Web 3.0 wallet for storing digital assets, including NFTs.
This change, highlighted by the company’s name change from OKEx to OKX, reflects the growing number of wealth-building opportunities the platform offers beyond the original exchange function, allowing investors to trade hundreds of digital assets on the spot, margin and and derivatives markets.
As part of this move, OKX has stated its mission to remove barriers to wealth creation by giving people everywhere access to decentralized tools and resources. This underscores the platform’s continued evolution towards decentralization, including the ability for investors to self-custody their digital assets. Unlike other centralized cryptocurrency exchanges, OKX strives to progressively reduce the company’s involvement in user activity, with the ultimate goal of completely eliminating middleman activity.
“OKX goes beyond the standard centralized exchange model to offer our customers a comprehensive cryptocurrency experience,” said Jay Hao, CEO of OKX. “Most importantly, we are doing this while maintaining the core principles of cryptocurrencies – decentralization and autonomy. Our goal is to provide our clients with the tools they need to easily and securely earn, transfer and spend their wealth as they see fit, without the need for our intermediaries. We removed the “E” from our name because we are more than just an exchange, just like cryptocurrencies are more than just a speculative asset.”
OKX, which has over 250 listed digital assets and has long been the #1 spot crypto futures trading volume, recently became the fifth largest spot crypto trading platform. In 2021, the total trading volume on the platform, including spot instruments and derivatives, increased by more than 700%, while the number of transactions executed on the platform increased by more than 480%. Staking, saving and offering DeFi via Earn OKX has seen over $5.1 billion in user deposits and paid out over $314 million in passive income over the past year.
To learn more, please visit OKX.com and stay tuned @OKX on twitter.
Founded in 2017, OKX is a leading global cryptocurrency exchange and ecosystem.
OKX has creatively applied blockchain technology to reshape the financial ecosystem, offering some of the most sophisticated and diverse products, solutions and trading tools on the market. Trusted by over 20 million people in 180 regions worldwide, OKX is on a mission to remove barriers to wealth creation by providing access to everything the decentralized future has in store. With a commitment to constant innovation, OKX envisions an inclusive world of finance for everyone through the power of cryptocurrency and decentralized finance.
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