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Cryptocurrency exchange OKEx launches P2P digital trading platform

Cryptocurrency exchange OKEx has launched a peer-to-peer (P2P) digital trading platform, AllCoinsNews reported.

The new platform will support multiple digital assets and fiat currencies. In addition, OKEx announced that it is looking to increase its range of futures contracts to Ethereum, Ethereum Classic, and Bitcoin Cash. ETH, ETC, and BCC futures will be available from November 3, 2017.

“To better serve our clients across the globe, OKEx is evolving and will therefore launch a P2P digital trading platform. Cryptocurrency has become a popular commodity in recent years and attracts many investors’ interest. OKEx is the first in the world to support Bitcoin Cash, ETH and ETC futures which means we can satisfy investor’s need on arbitrage and hedging,” Lennix Lai, financial market director for OKEx, said.

The P2P digital trading platform is also introducing “market maker model” aimed at reducing counterparty risk. Users may register as common trader or market-maker (according to 8BTC):

  • Common trader – a person who wishes to buy or sell digital assets at a certain price.
  • Market-maker – a person who will act as a counterparty to common traders and provides liquidity to the market.

All accredited market makers will undergo a rigorous selection process by the OKEx team.

Furthermore, OKEx is also going to launch a new logo. The new design consists of four circles, representing four focus areas – connectivity, diversity, fortune, and bright future.

“The blockchain like logo enforces OKEx’s dedication to connect the old and the new within the financial sectors. We promise OKEx will never stop to innovate and will continue to improve our customer experience,” Lai added.

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