OKEx, a digital asset exchange based in Malta, announced this Wednesday morning that it has launched two new currencies on its over-the-counter (OTC) trading platform – Thai baht (THB) and British pound (GBP).
With the launch of the two new currencies, users in both Thailand and the United Kingdom can now complete the know-your-customer (KYC) verification to be eligible to trade on the OTC trading platform, which is also referred to as a fiat-to-cryptocurrency platform.
Via the OTC trading platform, customers can place orders with their chosen payment method and self-selected exchange rate to buy or sell digital financial assets with fiat currencies.
On the trading platform, customers can now trade the THB and GBP against Bitcoin (BTC), Tether (USDT), Ethereum (ETH) and Litecoin (LTC). In addition, the platform also facilitates global digital assets trading with the Vietnamese Dong (VND) and Chinese Renminbi (CNY) fiat-to-cryptocurrency markets. The exchange plans to add further currencies this year, the statement released today said.
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•UK & Thai users exclusive pic.twitter.com/wjvq6ZSIUY
— OKEx (@OKEx) 23 January 2019
Commenting on the new currencies, Andy Cheung, OKEx’s Head of Operations said: “Our mission is simple at OKEx. We aim to offer flexibility and convenience to our traders. Thailand and the UK own the fastest growing crypto communities in the world. We see great potential in these two markets and want to support the needs there.”
“Because of the increasing trading volume and number of traders in these two countries, we decided to launch the new THB and GBP trading services on our OTC trading platform. Wherever the market potential locates, we will expand to there. In 2019, you can expect more currencies will be supported on OKEx.”
OKEx expands perpetual swap products
The news comes a few weeks after OKEx revealed that it had added seven new trading products to its cryptocurrency derivative product, a no-expiry Bitcoin derivative known as a “perpetual swap.”
Now, in addition to BTC, users can trade perpetual swaps contracts for Bitcoin Cash (BCH), Bitcoin SV (BSV), EOS (EOS), Ethereum Classic (ETC), ETH, LTC, and Ripple (XRP). However, these contracts will only support 40x leverage, as Finance Magnates reported.