OKEx believes that the recent addition of Ecosystem Partnership can contribute to building a stable blockchain ecosystem, as well as offers a great opportunity to connect to different networks and portfolios under the blockchain space.

“We are excited to participate in this new initiative by Klaytn. We have a strong faith to the team and the blockchain technology developed upon solid reliability and significant stability,” said Andy Cheung, Head of Operations of OKEx.

“Exchanges and projects itself should work together to define and adopt standards that will promote digital asset adoption globally. At OKEx, we are always keen to work with market players in expanding the market and bring in quality projects in accordance with market needs, and I believe this indicates a good start,” Mr Cheung added.

“We are delighted to welcome the global top exchange OKEx to join Klaytn,” said Chase Choi, the Head of Business at Ground X. “As Asia’s number one blockchain platform, we will further solidify and expand our ecosystem together with OKEx,” he added.

Klaytn partnerships come in various forms: Governance Council, Ecosystem Partners, Initial Service Partners, KLAY BApp (Blockchain Application) Partners, and Investors. The project’s partners currently include giants such as Samsung Blockchain, IDG Capital and Shinhan Bank.

Developed by Kakao’s blockchain arm, Klaytn is an enterprise-grade and service-centric blockchain platform with a mission to combine the features of both public and private chains via an efficient hybrid structure. Kakao is one of the market-leading messenger services in South Korea.

The post OKEx joins Kakao’s Klaytn blockchain ecosystem first appeared on The Malta Business Weekly.

The eight awards organisers are expecting applications for are as follows:

• Award for Best Tech Startup,
• Award for Creative Innovation,
• Award for Scientific Innovation,
• Award for Technological  Innovation,
• Award for Top Investor,
• Award for Digital Disruptor,
• Award for the Best Service Provider,
• Award for Tech for a Better World.  

For the first time, the awards have the scope to give exposure and credit to all the “hard-working companies and individuals in the tech sphere” in Malta, according to the press release. 

“The awards will shed a spotlight on the ongoing tech activity in Malta, the innovative projects, and the solutions created which will give back to the community but most of all the awards will boost the creative thinking and tech talent which is part and parcel of the growth of the digital economy of our islands,” said parliamentary secretary Silvio Schembri. 

A judging panel will decide on the awardees, while in the case of the Best Tech Startup, a specific judging panel will be set up to rank all applications and determine the three finalists and award winner. The three finalists will be invited to the MCA eBusiness Awards Event.  

Nominations can be placed through the official website of the summit by noon on 18 September.

The post Applications open for eight awards at DELTA Summit first appeared on The Malta Business Weekly.

OKEx expects the new platform to allow users to access the real-time data of OKEx’s futures and perpetual swap markets of nine mainstream tokens including bitcoin (BTC), litecoin (LTC), ether price (ETH), ether classic (ETC), ripple (XRP), EOS, bitcoin cash (BCH), bitcoin SV (BSV) and tron (TRX), according to a press release sent to Business Malta.  

Additionally, OKEx expects the new feature to help its customers to get a grasp of market trends, including long/short positions ratio, basis, open interest and trading volume, buy/sell taker volume, Top Trader Sentiment Index, and top trader average margin used. 

The new data platform is also seen to provide additional insight that would help customers better identify market trends and develop their own trading strategies, the press statement says.

“Derivatives trading requires a steeper learning curve, as it involves the use of margin and leverage. Once we realized that there isn’t really much data available in the market to help users analyze market trends, we decided to build a tool that can benefit our users,” said Andy Cheung, Head of Operations of OKEx. 

“That’s why we launched this big data platform, and we are proud to say that we are the first in the industry to provide this kind of data. As a leader, we are committed to bringing the best user experience and building a healthy trading environment for all,” Mr Cheung added.

Recently, OKEx donated $4.5m — approximately €4m+ — of bitcoin to its perpetual swap market insurance fund in order to foster the confidence of customers in trading cryptocurrencies, according to a press release the company published.

The post OKEx launches trading data platform first appeared on The Malta Business Weekly.

“Malta is an important hub for us to connect to the European markets. This year marks a significant milestone for us. Over the year, in Malta, we have been working closely with legal and compliance experts, and local authorities to prompt the development of OKMSX,” said Andy Cheung, Head of Operations of OKEx.

“This joint venture marks our confidence in the Maltese government as well as our commitment to providing an efficient, secure, and transparent blockchain trading environment to clients worldwide. We are excited as it is finally happening in 2020,” he added.

“Backed by the strong support from the Maltese government, the Delta Summit is one of the world’s most important blockchain events. We look forward to bringing in more insightful discussions and sharing our upcoming plans with the world during the conference,” Mr Cheung continued.

OKEx has been collaborating with MSX since 2018, the digital and fintech arm of Malta Stock Exchange Holdings, in order to launch OKMSX, which is an institutional-grade exchange for security tokens in support of the “Blockchain Island” initiative in Malta. After one year of preparation time, the new exchange is at the final stage of development and the launch is expected in Q1 2020, according to the press release sent to BM.

The Delta Summit tech week will bring together players from tech industries, including sectors of blockchain, cryptocurrency, artificial intelligence (AI) and internet of things (IoT), among many others.

Malta has shown a welcoming attitude for emerging technology startups, which seek a base for innovations and presenting their ideas to the world.

The post OKEx celebrates anniversary in Malta, readies launching OKMSX first appeared on The Malta Business Weekly.

OKEx introduced perpetual swap trading last year, along with its new risk management system that their customers benefited from. The group offers hedging and arbitrage instruments like futures and perpetual swaps, in order to help traders optimize their trading strategies.

Since the adoption of the new risk management system, OKEx noted that the exchange has recorded no clawbacks for the futures and perpetual swap markets, even under volatility.

Furthermore, the donation to the perpetual swap insurance fund is expected to provide an extra layer of protection to the customers, ensuring their safeguard.

“We strive for developing a healthy trading environment. No clawback has occurred on OKEx perpetual swap since its launch. We introduced a new risk management system to strike a better balance between avoiding early liquidation and maximizing traders’ benefits,” said Andy Cheung, Head of Operations of OKEx.

“We believe the $4.5m donation can give extra confidence for customers trading on our platform. Developing a robust crypto marketplace where everyone can trade freely in a fair manner is something that has always been our mission,” he added.

“Customer satisfaction is the core of our service. The key to delivering the best user experience to our customers is security. Our founding members and executives are all tech and internet experts, allowing us to lead in product and technology development,” continued Mr Cheung. “As believers in bitcoin and the blockchain, we are dedicated to bringing more positive changes to the existing financial system, bridging the traditional and crypto markets with our technologies.”

The post OKEx donates $4.5m to perpetual swap market insurance fund first appeared on The Malta Business Weekly.

Therefore, the upgraded system showcases three main elements, which are the Mark Price, the Tiered Maintenance Margin Ratio (TMMR) — in order to avoid liquidation of large positions and its after-effect on market liquidity —, and the Forced Partial Liquidation Mode — introduced to eliminate the market impact caused by a large number of liquidated orders.

In addition, the new risk management system has brought balance to the risks and users’ interests. When at risk, positions will be liquidated closer to the bankruptcy price, allowing users more opportunity to remain solvent and recover from the risks.

OKEx reports an example to demonstrate the performance of the upgraded system, focusing on the bitcoin (BTC) flash crash incident that happened in May 2019. The incident was caused by a BTC5,000 dump at an oddly low price of US$6,200 on other exchange. The massive sell order caused the BTC price plunge from US$7,800 to US$6,100 in only ten minutes and created a short-time arbitrage opportunity, as the press release says.

However, thanks to the OKEx mark price of BTC, which is formed by the market prices from the other five major exchanges, GEMINI, Coinbase, Bitstamp, Kraken, and OKCoin, a price crash in one particular exchange would not cause devastating effects on OKEx markets, the company insists.

During the incident, the enhanced risk management system has demonstrated stabilized the quarterly contract price at around US$7,000 and no clawback took place at OKEx.

The post OKEx launches risk management system first appeared on The Malta Business Weekly.

ALLIVE is an “intelligent healthcare ecosystem based on blockchain technology”, which aims to provide standardised formats for health data integration, to support high user concurrency, to protect data privacy via decentralised and encrypted storage, and to support extension compatibility, the press statement describes.

The ALLIVE team has been in partnership with Ontology since August 2018 to facilitate inter-business collaboration and data sharing. Such partnership aims to develop a decentralized healthcare ecosystem and a smart blockchain network, according to the company.

“As always, OK Jumpstart weighs the potential of each supporting projects and ALLIVE simply captures the essences of blockchain technology by applying it to new use cases. It sets a good example in demonstrating how the technology can transform healthcare procedures and improve our lives, such as making electronic medical records more readily available for doctors to access without sacrificing the security of our personal data,” said Andy Cheung, Head of Operations of OKEx.

“We have experienced tremendous growth that the blockchain technology brings to our financial system, but the power of blockchain is limitless. We can also use it to establish a sustainable smart health community to enhance the healthcare ecosystem so it can be more accessible and more affordable for everyone,” the OKEx chief added.

The companies say that the ageing population faces a greater prevalence of chronic diseases or new diseases, and costly medical solutions or targeted treatments might not be an affordable option for everyone. With the ever-rising healthcare cost, the companies hope that by adopting blockchain technology can effectively minimise the struggle of managing medical and financial challenges.

The post OKEX teams with ALLIVE for 2nd OK Jumpstart project first appeared on The Malta Business Weekly.

Users of the platform can now place orders with self-selected exchange rates and payment methods to buy or sell virtual financial assets with fiat currencies. OKEx C2C trading service offers a decentralised platform for the buying and selling of bitcoin (BTC), tether (USDT), ether (ETH), and litecoin (LTC).

“We strive for building a robust crypto ecosystem, that’s why we will never stop expanding and pushing crypto adoption forward. We are so thrilled about the expansion as our C2C platform is fostering the buying and selling of digital assets across Europe with the newly supported currencies,” said Andy Cheung, Head of Operations of OKEx.

“This is a big step forward. Given the recent Bitcoin price rally, the whole crypto market is giving a strong signal. We have good faith in the growth and development of blockchain technology under this bullish trend,” he added.

OKEx listed the British pound (GBP) and the Thai baht (THB) as two new currencies for trade on its over-the-counter (OTC) platform in late-January. The company also expressed commitment to the UK market despite Brexit woes. Very recently, OKEX unveiled its initial exchange offering (IEO) platform, dubbed “OK Jumpstart”. The platform also recently announced the launch of Turkish lira.

The post OKEx introduces euro and ruble to its C2C platform first appeared on The Malta Business Weekly.

The Turkish lira C2C trading service will be available from early April. The company has also added the Turkish language to its online platform and website, as an addition to eight other languages.

“Turkey is the country that has one of the highest percentages of crypto ownership in Europe, and it owns one of the fastest growing crypto communities in the world. While Turkey is entering an economic recession, people are finding ways to safeguard their wealth, and many of them have turned to digital assets,” says Andy Cheung, Head of Operations of OKEx.

“At OKEx, we are actively looking for ways to serve the community here. By supporting Turkish lira, we hope to provide an additional solution for the local people to address their concerns on economic stability,” the head adds.

OKEx listed the British pound (GBP) and the Thai baht (THB) as two new currencies for trade on its over-the-counter (OTC) platform in late-January. The company also expressed commitment to the UK market despite Brexit woes. Very recently, OKEX unveiled its initial exchange offering (IEO) platform, dubbed “OK Jumpstart”.

The post OKEx launches Turkish lira on C2C platform first appeared on The Malta Business Weekly.

“Despite the uncertainty around Brexit, we are still optimistic about the crypto market as this could be a new economic opportunity to both the euro and British pound,” said Andy Cheung, Head of Operations of OKEx. The OKEx chief addressed the issue yesterday in London, during an event dubbed “mindxchange”, discussing blockchain progress in the United Kingdom.

Attendants of the event agreed that as the adoption of blockchain technology is broadening in the United Kingdom, and across the world, prompt action is needed to speed up publishing a regulatory framework in place, the press statement says.

“It has always been delightful to see the crypto community growing. The United Kingdom owns one of the fastest-growing crypto communities in the world. Having observed such great potential, we wanted to support the needs here, and therefore, we launched GBP on our C2C platform,” Mr Cheung concluded.

OKEx is a digital asset exchange headquartered in Malta, offering digital assets trading services including token trading, futures trading, perpetual swap trading and index tracker to global traders with blockchain technology. Currently, the exchange offers over 400 token and futures trading pairs enabling users to optimise their strategies. The company says their platform serves “millions of customers from over 200 countries and regions”.

OKEx recently launched the British pound (GBP) and the Thai baht (THB) as two new currencies available for trade on its over-the-counter (OTC) platform, which is often tagged as a fiat-to-cryptocurrency platform. “Thailand and the UK own the fastest-growing crypto communities in the world. We see great potential in these two markets and want to support the needs there,” Mr Chueng said at the time of launching GBP and THB.

The post Maltese DA exchange OKEx believes in UK despite Brexit doubt first appeared on The Malta Business Weekly.