OKEx, a digital asset trading platform, has announced the support for Tether (USDT) trading.

The “Crypto dollar” USDT is available on the OKEx platform. USDT is a digital asset based on the Omni Layer Protocol issued on the Bitcoin Blockchain. The most distinctive feature of USDT is that it is backed by fiat currency - each USDT represents one US dollar and it is redeemable by holders upon request through the Tether Platform.

OKEx, which belongs to Chinese Bitcoin trading platform OKCoin, said that it aims to offer a diversity of trading pairs to its clients and deliver outstanding services though its state-of-the-art trading infrastructure.

“OKEx is therefore pleased to support USDT and to provide our clients with an alternative for cryptocurrency hedging and/or arbitrage,” it said.

OKEx hack

Earlier this month, reports suggested that OKEx was hacked, in which victims lost about 600 BTC in total (approximately $3 milion). According to CoinTelegraph, OKEx said that the hack has nothing to do with the platform and directed the victims to call the police by themselves.

However, following the recent ban on Bitcoin trading in the country, the police consider it to be a type of pyramid scheme and refused to take the case.