Exchange News

OKEx is helping individuals start their own cryptocurrency exchange

Have you ever wanted to start your own cryptocurrency exchange but didn’t know where or how to offset the dream off the ground? Well, OKEx, one of the leading cryptocurrency exchange in the world, has something for you.

In a bid to nature a new generation of cryptocurrency exchanges, OKEx has developed what it’s calling the Digital Asset Exchange Open Partnership (DAEOP) targeting individuals and institutions.

“In order to create a new cryptocurrency exchange, interested parties need to provide OKEx with a domain name, logo, and details of the management team. They are urged to possess solid industry experience, quest for service excellence, and strong industry influence.” Reported Finance Magnates.

That’s not all. Apart from providing them with a domain name, an individual or institution will be required to deposit 2.5 million U.S dollars in terms of OKEx’s token which translates to 500,000 OKB as noted by FM.

After fulfilling all of the above requirements, you will be able to access and use the OKEx’s system which connects buyers and sellers, customer support, KYC, AML, online and offline crypto storage systems, and also the system that OKEx uses for money transfer.

As this is good news and the cryptocurrency exchange is anticipating large numbers of applicants, it’s limiting the first leg of the offer to only 100 slots with applications expected to open from next month.

According to OKEx, the Digital Asset Exchange Open Partnership Program, “which is based on the concept of decentralization, is our best proof [of a truly decentralized digital asset]. We believe the program will make a difference to the blockchain industry and inspire more exciting ideas to come.”

Last month, OKEx rolled out another program that seeks to interface high profile cryptocurrency investors with “high-quality blockchain projects”  that have been cleared by the OK blockchain capital, OKEx’s investment branch.

Do you think crypto exchanges will increase now that OKEx has offered to help?

Let us know your thoughts in the comments section below.

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coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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