OKX Referral Code: 8850659

About OKX

The System Needs a Rewrite

OKX is a leading global cryptocurrency exchange offering a comprehensive suite of trading, financial, and Web3 services. Operating in over 190 countries, it provides spot and derivatives trading, staking, lending, and a decentralized finance (DeFi) ecosystem.

OKX is known for its strong focus on security, regulatory compliance, and transparency, including monthly Proof of Reserves reports.

Emphasizing innovation, OKX integrates Web3 technology, including a non-custodial wallet, NFT marketplace, and decentralized exchange (DEX).

Key Metrics

• Global Presence: OKX operates in over 190 countries, serving millions of customers.
• Trading Volume: As of 2024, OKX ranks among the top cryptocurrency exchanges, with daily trading volumes exceeding billions of dollars.

Notable Developments

• Rebranding Initiative: In 2023, OKX rebranded from OKEx to streamline its brand identity and expand its global market presence.
• Web3 Expansion: OKX launched a Web3 wallet and decentralized applications (dApps) support, integrating DeFi, NFTs, and a DEX aggregator into its ecosystem.
• Strategic Partnerships: The company partnered with top sports teams and athletes, such as Manchester City FC, to increase brand visibility.

Presence in Singapore

• Headquarters and Operations: OKX has a regional office in Singapore, managing compliance, business development, and customer support for Southeast Asian markets.

Regulation by Monetary Authority of Singapore (MAS)

• Licensing Approval: In September 2024, OKX Singapore received a Major Payment Institution (MPI) license from MAS, enabling it to offer digital payment token services and cross-border money transfers.
• Regulatory Compliance: As part of its licensing agreement, OKX follows Singapore’s Payment Services Act, ensuring adherence to anti-money laundering (AML) and know-your-customer (KYC) regulations.

Transparency

• Proof of Reserves: OKX publishes monthly Proof of Reserves (PoR) reports, allowing users to verify that their assets are fully backed.
• Audit and Security Measures: The exchange undergoes regular third-party audits and uses multi-signature security protocols to protect user funds.

Ecosystem

OKX offers a wide range of cryptocurrency-related services, including:

• Trading Services: Supports spot trading, margin trading, futures, perpetual swaps, and options.
• Earning Opportunities: Provides staking, lending, and savings products for users to earn passive income.
• Web3 Features: Includes a non-custodial Web3 wallet, NFT marketplace, decentralized exchange (DEX), and launchpad for new projects.
• Institutional Services: Offers API trading, high-frequency trading (HFT) tools, and customized liquidity solutions for institutional clients.

Unique Selling Proposition (USP)

Instant deposit and withdrawals in Singapore

• In late 2024, OKX introduced instant Singapore dollar (SGD) deposits and withdrawals via DBS Group’s PayNow and FAST payment systems, improving accessibility for Singaporean users.

Usage Notes and Tips

• Stay Updated: Regularly check OKX’s official announcements for changes in trading fees, regulations, and new features.
• Use Security Features: Enable two-factor authentication (2FA) and withdrawal whitelisting to protect your funds.
• Understand Trading Risks: Be aware of leverage risks in futures and margin trading before engaging in high-risk trades.

By leveraging OKX’s offerings and staying informed about regulatory updates, users can maximize their trading and investment experience on the platform.

Learn more on crypto investing in Singapore