OKEx Sister Firm OKLink to Launch USD-Pegged Stablecoin USDK


Global settlement agency OKLink, a sister firm of main cryptocurrency change OKEx, will launch its stablecoin right this moment, June 3, an OKEx consultant instructed Cointelegraph.

In an electronic mail despatched to Cointelegraph, the OKEx rep specified that the stablecoin — dubbed USDK — can be launched right this moment in partnership with United States-based custodian Prime Trust.

On June 2, OKLink posted scans of the settlement between OKLink and Prime Trust on Twitter.

At the tip of final month, Star Xu — founding father of change companies supplier OKCoin and OKEx — introduced OK Group’s partnership with the belief firm and plans to launch a stablecoin.

Prime Trust can also be one the belief corporations that manages the escrow accounts holding collateral for competitor stablecoin, TrueUSD.

The agency can also be reportedly the companion that allows fiat buying and selling on the U.S.-based model of high cryptocurrency change Huobi.

OKEx is presently the world’s second largest crypto change by adjusted day by day commerce volumes, seeing $1.eight billion in trades over the previous 24 hours to press time.

As Cointelegraph reported in March, OKEx is growing its personal decentralized change (DEX) and blockchain, referred to as OKChain. The chain is reportedly already within the closing improvement stage and the corporate expects to launch the testnet this month.

Yesterday, Cointelegraph reported that the so-dubbed decentralized change developed by main cryptocurrency change Binance will block entry to customers based mostly in 29 international locations. The DEX informs potential customers of the restriction by way of a message that seems when accessing the platform from one of many blocked areas.

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