OKEx Donates $4.5 Million to Foster Perpetual Swap Market

VALLETTA, Malta, July 24, 2019 (GLOBE NEWSWIRE) — OKEx, a world-leading cryptocurrency exchange, has donated $4.5 million-worth of Bitcoin to its perpetual swap market insurance fund to foster customers’ confidence in trading cryptocurrencies.

OKEx appeared in Times Square, New York

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Last year, OKEx introduced perpetual swap trading along with the new risk management system which their customers widely benefited from. Since the adoption of the new risk management system, the exchange has recorded zero clawback for the futures and perpetual swap markets, even under extreme volatility. The donation to the perpetual swap insurance fund will now provide an extra layer of protection to the customers, further ensuring that all customers’ interests are safeguarded.

“We strive for developing a healthy trading environment. No clawback has occurred on OKEx perpetual swap since its launch. We introduced a new risk management system to strike a better balance between avoiding early liquidation and maximizing traders’ benefits,” said Andy Cheung, Head of Operations of OKEx. “We believe the $4.5 million donation can give extra confidence for customers trading on our platform. Developing a robust crypto marketplace where everyone can trade freely in a fair manner is something that has always been our mission.”

OKEx’s world-leading crypto marketplace serves millions of users globally, offering hedging and arbitrage instruments, such as futures and perpetual swaps, to help traders optimize their trading strategies. With a comprehensive security system, no major security issues, hacks, and asset losses have ever taken place on OKEx.

“Customer satisfaction is the core of our service. The key to delivering the best user experience to our customers is security,” added Andy Cheung. “Our founding members and executives are all tech and internet experts, allowing us to lead in product and technology development. As believers in Bitcoin and blockchain, we are dedicated to bringing more positive changes to the existing financial system, bridging the traditional and crypto markets with our technologies.”

Please stay tuned to OKEx’s Press Room and Twitter for latest updates.

About OKEx
OKEx is a world-leading digital asset exchange headquartered in Malta, offering comprehensive digital asset trading services including fiat-to-token trading, spot trading, futures trading, and perpetual swap trading to traders globally with blockchain technology. Currently, the exchange offers over 400 token and futures trading pairs enabling users to optimize their strategies.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/44976272-2390-48f8-974a-3bd991292751

media@okex.com