OKEx Subsidiary Firm 'OKLink' To Launch It's Stablecoin 'USDK' Today.

OKEx Subsidiary Firm 'OKLink' To Launch It's Stablecoin 'USDK' Today.

2019-06-03 | Big Bob

OKEx Subsidiary Firm 'OKLink' To Launch It's Stablecoin 'USDK' Today.

In line with a recent official announcement, renowned global settlement firm named ‘OKLink’ which is a subsidiary of leading cryptocurrency exchange ‘OKEx’, is about to launch its stablecoin today.

The OKEx representative specified that the stablecoin called USDK, would be launched today in collaboration with United States-based custodian Prime Trust.

Earlier on 2nd June, OKLink announced scans of the agreement between OKLink and Prime Trust on Twitter.

Also earlier in last month, Star Xu - founder of the exchange services provider OKCoin and OKEx - 'proclaimed' OK Group’s partnership with the trust firm and their collaborative plans to launch a stablecoin.

Prime Trust is also one among the trust firms that manages the escrow accounts 'holding' collateral for competitor stablecoin, named ‘TrueUSD’.

The firm is additionally reportedly the partner that allows the fiat trading on the U.S.-based version of primary cryptocurrency exchange Huobi.

OKEx is presently the world’s '2nd' largest cryptocurrency exchange by adjusted daily volumes, observing about $1.8 Bln in trades over the past 24 hours, at the reporting time.

Earlier in March, OKEx is 'developing' its own decentralized exchange [DEX] and 'blockchain', known as OKChain. The chain is reportedly already within its final development stages and therefore the company expects to launch the testnet by this month.

As 'reported' by EtherDesk earlier, the exchange developed by the leading cryptocurrency exchange 'Binance' can block access to users primarily based within 29 countries. The DEX informs potential users of the restriction via a message that pops-up after accessing the platform from one of the blocked regions.

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