- OKEx stablecoin is created using the ERC-20 token standards on the Ethereum protocol.
- USDK will launch on the market as from 07:00, June 3, 2019 (CET, UTC+1).
A leading cryptocurrency exchange based in Malta OKEx and its subsidiary are the new entrants in the stablecoin arena. The subsidiary OKLink according to a blog post published on June 3 will start issuing a dollar-pegged stablecoin with the symbol USDK.
Most exchanges are moving towards launching their own issued stablecoins which could also mean that the stablecoin fever is fading away. Other exchanges with these type of coins are Bitfinex, Gemini and Circle.
OKEx stablecoin is created using the ERC-20 token standards on the Ethereum protocol. The coin is developed in collaboration with OKLink and Prime Trust. A tween by OKLink on June 2 said:
“Leap Holdings Group Limited (http://1499.HK ) officially announced today its subsidiary company OKLink Fintech Limited (OKLink) has signed an agreement with Prime Trust, LLC (Prime Trust) to launch the USDK business.”
The blog post said that the coin will launch on the market as from 07:00, June 3 2019 (CET, UTC+1). At the beginning the fees for all opening orders and transactions will be zero. There are eleven trading pairs for the stablecoin including BTC/USDK, LTC/USDK, ETH/USDK, OKB/USDK, ETC/USDK, BCH/USDK, EOS/USDK, XRP/USDK, TRX/USDK, BSV/USDK, and USDT/USDK.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin finds rejection around the $70,000 level
Bitcoin price struggles to break through the $70,000 threshold, while Ethereum and Ripple are maintaining stability at their daily support levels, suggesting a potential rally could be on the horizon.
Ethereum slips in key metric, falls to fifth position
Ethereum ETFs launch has attracted increased investors’ interest to Layer 1 protocols. Ethereum falls to number five among top fee generating protocols. Ethereum may continue trading horizontally until Grayscale ETHE outflows cool.
Ripple gears for showdown with SEC, final ruling in lawsuit likely this week
Ripple lawsuit brought by the SEC could end in July 2024. XRP traders are watching the lawsuit closely for updates on settlement or a final ruling by Judge Analisa Torres. Ripple’s partial victory in July 2023 cemented XRP’s status as a non-security.
Crypto investment products continue net inflows run despite week of mixed sentiment
Digital asset products recorded net inflows of $245 million last week, sliding from $1.35 billion after a week of mixed sentiment. Meanwhile, the launch of Ethereum ETFs also sparked a surge in digital asset trading volume.
Bitcoin: Will BTC manage to recover from recent market turmoil?
Bitcoin recovers to $67,000 on Friday after finding support around $63,500 a day before. Still, BTC losses over 1.50% on the week as Mt. Gox persists in transferring Bitcoin to exchanges.