OKEx announces fiat-to-token European expansion

Jordan Heal

Cryptocurrency exchange OKEx’s cross-chain recovery program has successfully retrieved more than $400 million worth of misplaced crypto coins and returned them to users since its implementation, according to a press release shared with Coin Rivet. The exchange states: “Depositing into an incorrect address is a very common but also frustrating mistake that users can make. Because of the irreversible nature of blockchain, recovering lost digital assets can be very dangerous and time-consuming. “Many exchanges find the process too complicated and are not willing to do this for their customers.” However, the Malta-based OKEx exchange has said it is committed to providing a trusted ecosystem for everyone to access digital assets and endeavours to safeguard the assets of every user, including

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Popular cryptocurrency exchange OKEx has announced it will be expanding its services in Europe – adding fiat support for the euro, Turkish lira, and Russian ruble.

OKEx is a Malta-based crypto exchange. According to a press release shared with Coin Rivet, it will be adding several new fiat currencies to its markets on its customer-to-customer (C2C) trading platform.

The C2C platform is a decentralised system for the purchase and sale of Bitcoin, Tether, Ethereum, and Litecoin.

The newly added fiat currencies will be the euro (EUR), the Turkish lira (TRY), and the Russian ruble (RUB).

According to the press release, and in light of “the great demand for digital asset trading around the world”, OKex is “set to fulfill the role of the trailblazer in driving mass adoption of digital assets globally”.

Users will now be able to place orders with self-selected exchange rates and payment methods to buy or sell Virtual Financial Assets with fiat currencies.

To use the C2C platform, customers will need to complete several steps including ‘Know-Your-Customer’ (KYC) verification alongside linking a valid local bank account and mobile number to their account.

Andy Cheung, head of operations at OKEx, commented: “We strive for building a robust crypto ecosystem, that’s why we 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.

“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.”

Interested in reading more OKEx-related news? Discover how its contract market recently recorded $2.4 billion in 24-hour daily trading volume.

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