OkEx Supporting USDk could be Timely

[WarrenBarren]

The crypto market is unique. It is both hot and cold. Rush and stable. It could be because it is dominated by retail investors. Yet again it could be because of the thin liquidity. After all, the total market capitalization of the new investment space is $25 billion shy of $300 billion. As such, it is far from Gold’s market cap estimated at $7 trillion.

A level deeper and crypto is a mere 33 percent of Amazon’s and Microsoft’s market cap that is flirting with the $1 trillion mark. Behind all this is non-participation from institutions. They are a worried lot. Regulators are breathing down their necks and the US SEC in particular is keen on protecting the space.

It’s all to do with volatility and many reckon the rollout of a trusted tool, a conduit towards stability, a safe haven during crypto storm while still maintaining its decentralization and abiding by the spirit of decentralization would unlock the crypto dragon and the space would flourish a result.

USDk and OkEx

Of the many Stablecoins, OkEx may end up adding their support for yet another regulated crypto Stablecoin based on the Ethereum platform and forged by the dictates of the ERC-20 standard. Although unsubstantiated, rumor has it that Ok Group shall launch an USDk, a reliable Stablecoin together with Prime Trust, a Nevada companied that is qualified to act as a fiat and crypto custodian.

This is just weeks after Star Xu, the CEO and founder of OkEx, one of the world’s largest and fluid exchanges, shook hands with Prime Trust. In their agreement, the two shall collaborate and in the end roll out services that are diverse, secure and above all, adhering to regulation.

In their homepage, the issuers of USDk says the coin will be guided by smart contracts that are audited by Certik and SlowMist, that Prime Trust coffers shall be available for public audit and most importantly liquid thanks to their large use base.

Tether Troubles

However, we cannot railroad anything and even insinuate that the support will come automatically based on Star Xu links with Prime Trust. However, going through OkEx social media posts, it is clear that that they are readying themselves for another Stablecoin aside from Paxos, TrueUSD, Paxos and GUSD.

There are posts on Stablecoin preference, what the community demands from the coin issuer and those touching on their Stablecoin holdings. If anything, this would be timely, coinciding with the time that the world’s most liquid Stablecoin, USDT, is under siege from the community.

This stems from their lack of transparency and recent revelations that their coins are after all not backed by 100 percent cash but a conflation of cash, cash equivalents, Bitcoin and other digital assets.

https://www.okex.com

[CryptoYears]

This is extraordinary news!! Funny that I was contrasting Cryptos and these business sectors in puerile ways. Great to know the realities, particularly with the Gold in comparison. Okex is a superb exchange, so will see where they a chance to move with this.

[JamesAnderson]

I won't generally like to state much at this stage except if this is affirmed. I would accept this as developing story nothing to be serious over just yet.

[Cryptobee2018]

Cool…. I think OkEx should proceed with their help for such stable coins. There is tremendous potential with these and it's nice that it's getting comprehended!

It just helps everybody.

[ICOrealityshow]

Oh gosh, I did not knew Gold market was this big!
Hope someday Cryptos can also reach there till I am alive.

[BrottJones]

A pretty excellent and positive move this is. In spite of the fact that, OKEX is genuinely prevalent name.

This sort of move is amazing to me. It's extremely strong and energizing. Results will appear in months to come.

[LucaMarco]

I would prefer not to sound idiotic yet I didn't comprehend whether OkEx has endorsed the posting or not? By looks of this it appears they are thinking about however there is not all that much yet?

[Onuscoin]

Well, this appears to be very fascinating. I completely back OkEx to cause the correct move. They are super cool and know how it all is done, which is why they achieve this status in the industry so quickly.

Too soon to pass judgment on how this is going to finish up however is by all accounts very fascinating advancement.

[AlexHales]

A debt of gratitude is in order for sharing. I for one will be extremely exceptionally glad if this occurs. I truly trust OkEx pushes ahead with this since it's a great improvement and will help them as well!

[ICOselector2018]

To be honest I don't have thought whether this could be a decent move or not. Be that as it may, regardless of whether this move is correct, I can't see it getting an excess of appreciation.

What I discover great with Okex is that they are eager to accomplish something else contrasted with different exchanges. So kudos to them.