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OKEx announces listing of new stablecoin, USDK

Last update: 04/06/2019

KUALA LUMPUR, June 4 (Bernama) -- OKEx, a world-leading cryptocurrency exchange has announced its new listing of USDK, a US Dollar-pegged stablecoin co-launched by its strategic partner, OKLink and Prime Trust.

According to a statement, the new stablecoin will be listed on OKEx’s fiat-to-token (C2C) trading platform against six fiat currencies – CNY, VND, GBP, RUB, EUR and TRY, and spot trading platform with 11 trading pairs.

“We understand the pains in terms of third-party auditing. But with this new launch of a compliant stablecoin, we hope to provide our users a secure and reliable trading experience guaranteed by high transparency and regular audit,” said OKEx head of operations, Andy Cheung.

USDK is a ERC-20 stablecoin co-developed by OKLink, a blockchain technology company, and Prime Trust, a US-licensed trust company. Every USDK is backed by 1USD from the Prime Trust Special Account.

OKEx will launch a two-day campaign, together with OKLink, offering a one per cent conversion premium exclusively to OKEx’s users. During the promotion period, users can convert USDT to USDK at a special rate of 1 to 1.01.

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