OKX, the World’s Second Largest Cryptocurrency Exchange by Trading Volume, Introduces Three Major New Services to Give Clients Better Asset Visibility, Better Control of Funds and Insight into Asset Backing Coin Journal learned from the following information: press release.
Today, the exchange added a new Proof of Reserve (PoR) page to its website. We provide details on his PoR audit of OKX and the latest overall token reserve rate.
Exchange launches self-audit feature
Later this week, OKX will introduce a new self-audit feature that will prove to clients that they are keeping their funds based on the latest data. This is to take transparency and user rights to the next level.
Currently, the self-audit feature supports major cryptos by market capitalization, such as Bitcoin (BTC) and Ethereum (ETH). Exchanges add more assets over time. We also conduct regular reserve audits to update the status of user assets and reserve balances.
First platform to introduce Independent Custodial Wallet
OKX has another record. The world’s first exchange to introduce an independent custodial wallet. This service is available for high net worth and institutional clients.
In the coming weeks, the company will launch an independent custodial wallet. It allows customers to check and track account balances in real-time, protect assets separately from reserves, and keep private keys to funds. This gives you better control and visibility of your assets.
Lennix Lai, Director of Financial Markets at OKX commented:
A new self-audit feature and proof of reserves page help users ensure their assets are fully backed. We also conduct third-party audits to provide additional peace of mind. OKX believes the industry needs more transparency. This will allow you to come back stronger after recent events.
OKX’s top priority is to ensure that the assets of its over 20 million customers worldwide are always safe. The exchange always maintains 1:1 asset collateral and is proud of its long-standing reputation for best-in-class safety and security.