OKX, the second-biggest crypto alternate on the planet by buying and selling quantity, has launched three new main choices which can be giving its shoppers improved visibility into their belongings, higher management over funds, and perception into asset backing, Coin Journal discovered from a press release.
Immediately, the alternate added a brand new Proof of Reserves (PoR) web page to its web site. It provides particulars about OKX’s PoR audits and its newest token-wide reserve ratios.
Alternate launches self-audit function
Later this week, OKX will introduce a brand new self-audit function that proves to shoppers that reserves again their funds based mostly on the latest information. That is so as to take transparency and person empowerment to the subsequent stage.
In the mean time, the self-audit function helps main cryptos by market cap, reminiscent of Bitcoin (BTC) and Ethereum (ETH). The alternate will add extra belongings over time. It’ll additionally conduct proof of reserves audits regularly to replace person asset standing and reserve balances.
First platform to introduce Unbiased Custodial Pockets
OKX can have one other document: the primary alternate on the planet to introduce an Unbiased Custodial Pockets. This service can be accessible to high-net-worth and institutional shoppers.
Within the weeks to return, the corporate will launch an impartial custodial pockets that can make it doable for shoppers to see and observe account balances in real-time, safe their belongings individually from reserves, and maintain the non-public keys to their funds. This can give them higher management and visibility over their belongings.
OKX Director of Monetary Markets Lennix Lai commented:
Our new self-audit function and proof of reserves web page let customers confirm that their belongings are absolutely backed. We even have third-party audits to offer extra reassurance. OKX believes the trade wants far more transparency so we are able to come again stronger after latest occasions.
OKX’s prime precedence is to ensure that the belongings of its prospects, who’re greater than 20 million worldwide, are at all times secure and safe. The alternate has at all times maintained 1:1 asset backing and is happy with its long-running fame for best-in-class security and safety.