OKEx to Open Thai and U.K. OTC Trading Desk

- Advertisement -

OKEx to Open Thai and U.K. OTC Trading Desk

OKEx has announced plans to open an over-the-counter (OTC) trading facility for users in the U.K. and Thailand. The move sees the exchange open the doors for fiat deposits of the Pound Sterling (GBP) and the Thai Baht (THB).

Also read: Lightning Network Goes to Congress as Specter of Crypto Policy Grows

Subscribe to the  YouTube channel for great videos featuring industry insiders & experts

OKEx Winning Hearts, Minds, Pounds, and Baht

The unusual combination of Thailand and the U.K. is probably largely coincidental. The world’s second largest exchange bills itself as “The Most Trusted Digital Asset Exchange”, a cheeky branding effort for an exchange that socializes losses when whales overreach and for a company whose founder has been recently questioned by Chinese police.

Now, it is seeking to win the hearts and minds of British and Thai nationals, by offering them OTC trading opportunities. Whether it is intended as a joke or not, OKEx is offering new users 50 Tethers upon sign up:

If only those Tethers were redeemable for… well… anything. The exchange is also offering trading services in Vietnamese Dong and Chinese Renminbi. Its OTC trading desk adds to its growing suite of products, which include futures trading and perpetual swaps in eight cryptocurrencies: BTC, BCH, BSV, EOS, ETC, ETH, LTC, and XRP.

- Advertisement -

The U.K. and Thailand Are Only the Beginning

OKEx is eyeing off continued expansion and anticipates opening other markets as the industry grows. It attributes its launch of Pound Sterling and Baht trading capabilities to demand among British and Thai traders.

OTC trading is designed for large investors seeking to place trades without moving the market. Interestingly, the OKEx news follows Binance’s announced launch of a crypto-to-crypto over-the-counter trading desk:

According to OKEx Head of Operations Andy Cheung:

“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 the 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 there. In 2019, you can expect more currencies will be supported on OKEx.”

- Advertisement -

Sound off below. Are you Thai or British and excited to see OTC trading in your fiat currency?


Images via Pixabay



Previous Articles:

- Advertisement -

Latest

Czech Justice Minister Resigns Over $45M Bitcoin Donation Scandal

Czech Justice Minister Pavel Blazek resigned after controversy over accepting and selling Bitcoin from a convicted criminal.The Justice Ministry auctioned nearly 500 Bitcoin, raising...

Uniswap (UNI) Rebounds Above $6 After Brief Uptrend Breakdown

Uniswap's UNI token dropped below its key uptrend line following a failed hold above the $6.00 support level.High trading volumes accompanied the decline, including...

Michael Saylor Invites Joe Rogan to Discuss Bitcoin on Podcast

Michael Saylor has shown interest in discussing Bitcoin on The Joe Rogan Experience podcast.The idea has generated excitement in the Bitcoin community, with some...

Congress Debates Stablecoin Bill Amid Rising Bank and Crypto Tensions

U.S. lawmakers are moving forward with the Senate Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, with debates set to resume after...

American Engineer Drugged, Robbed in Sophisticated London Crypto Heist

An American software engineer lost approximately $123,000 in cryptocurrency after being drugged and robbed in London.The victim was targeted by an impersonator posing as...

Must Read

9 Best Books On Ethereum And Blockchain Technology (Beginners And Advanced Readers)

Ethereum is a complex topic, and it can be difficult to know where to start learning about it.Even for people who are familiar with...