OKX overtakes global crypto exchanges as 2nd largest, rebrands as cross-platform services provider
Formerly OKEx, OKX’s new brand highlights the platform’s robust suite of crypto, NFT and DeFi investing products
VICTORIA, Seychelles, Jan. 18, 2022 (GLOBE NEWSWIRE) -- OKX, which recently became the second largest cryptocurrency exchange in the world by spot trading volume, today announced a company-wide rebrand that reflects the dynamism and accelerating adoption of cryptocurrency. Founded in 2017 as a cryptocurrency trading service, OKX has since amassed over 20 million users and expanded its suite of digital asset investing products to include OKX Earn, a tool for earning passive crypto income; an NFT marketplace and decentralized application discovery hub; and most recently, MetaX, OKX's new decentralized mode that features a cross-chain dashboard and self-custody Web 3.0 wallet for storing digital assets, including NFTs.
This shift, as highlighted by the company’s name change from OKEx to OKX, reflects the platform’s growing number of wealth creation opportunities beyond the exchange, which investors use to trade hundreds of digital assets on spot, margin and derivatives markets.
As part of the move, OKX has declared its mission to be “to remove barriers to wealth creation by giving you access to everything our decentralized future holds.” This underscores the platform’s ongoing evolution towards decentralization, which includes giving investors the option to self-custody their digital assets. Distinct from other centralized cryptocurrency exchanges, OKX is committed to gradually decreasing the company’s level of involvement in user activity, with the ultimate goal of shedding intermediation entirely.
“OKX is moving beyond the standard centralized exchange model to give our customers an end-to-end cryptocurrency experience,” said Jay Hao, CEO of OKX. “Most importantly, we’re doing this while upholding the core principles of crypto — decentralization and autonomy. Our goal is to give customers the tools they need to easily and securely earn, transfer, and spend their wealth as they see fit, without intermediation from us. We’ve dropped the ‘E’ from our name because we’re so much more than an exchange, just like crypto is so much more than a speculative asset.”
OKX, which lists over 250 digital assets and has long held the #1 rank for cryptocurrency futures trading volumes, recently became the second largest cryptocurrency spot trading platform in the world. In 2021, total trading volume on the platform, including spot and derivatives instruments, grew over 700%, while the number of trades executed on the platform increased over 480%. Staking, savings and DeFi offerings via OKX Earn saw over $5.1 billion deposited by users, and paid out over $314 million in passive income this past year.
To learn more, please visit OKX.com and follow @OKX on Twitter.
Founded in 2017, OKX is a world leading cryptocurrency exchange and ecosystem. OKX 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. Trusted by more than 20 million people in 180 regions across the globe, OKX’s mission is to remove barriers to wealth creation by offering access to everything the decentralized future holds. With its unwavering commitment to innovation, OKX envisions a world of financial inclusion for all through the power of crypto and decentralized finance.