OKX centralizes P2P trading service by acting as an intermediary

Rick Steves

“It makes secure person-to-person trading accessible to far more people, including those around the world who lack access to traditional banking services.”

Cryptocurrency exchange OKX has relaunched its P2P (peer-to-peer) trading platform that allows users to trade seamlessly between one another.

The revamped platform has expanded payment methods for P2P trading and will see OKX acting as an intermediary to offer risk management to traders. OKX now offers more than 900 payment methods from across 40 different currencies.

The P2P trading service enables users to be their own marketplace – by issuing “advertisements” in order to trade with one another and better control the price they buy and sell at.

Users in unbanked markets, who may lack access to conventional banking infrastructure, can leverage OKX’s P2P Trading platform to connect to other users.

OKX steps in on P2P trading for safety

The OKX platform plays a facilitation and risk management role in P2P trades. After a deal is struck between users, OKX holds the funds in escrow until the buyer’s payment is confirmed. This allows the exchange to manage the risks faced by users and ensure safe and stable trading between them.

Lennix Lai, Director of Financial Markets, OKX, said: “P2P Trading on OKX empowers users to trade on their own terms. But more importantly, it makes secure person-to-person trading accessible to far more people, including those around the world who lack access to traditional banking services. This is one of the ways in which OKX is empowering users the world over to liberate themselves from traditional financial systems and strive to attain financial independence.”

OKX’s overhaul of its P2P Trading platform includes a new-and-improved homepage UI, and an easy-to-use navigation bar that makes it easy to switch seamlessly between the marketplace, orders and ads.

The revamp also provides streamlined access to P2P guides, FAQs and tutorials to help users learn how to get the best out of the platform.

OKX partners with TradingView

OKX has recently announced it has partnered with TradingView in a milestone move for the cryptocurrency exchange, which will bring over 260 more cryptos to the top investing platform that already counts with 30 million customers.

Under the partnership, TradingView’s users can now execute trades on OKX directly through the platform and are provided with 640 more spot trading pairs and over 100 crypto derivatives.

While OKX already caters to clients across 180 countries, the crypto exchange has recently received a provisional virtual assets license to operate in Dubai. The Seychelles-based cryptocurrency exchange has obtained the approval from Dubai’s Virtual Assets Regulatory Authority (VARA).

Earlier this month, OKX launched Block Trading so that professionals and institutionals can execute large, privately negotiated transactions off the order books. The offering includes crypto spot, futures, options, and perpetual swap trades, as well as multi-leg combination trades, over the counter.

OKX has plans to eventually expand Block Trading to offer bespoke strategies, further OTC products and integrations with DeFi derivatives protocols.

Read this next

Digital Assets

Midas launches investment strategies for the ‘crypto winter’

Midas.Investments has released three new investment strategies on its custodial CeDeFi platform, creating new opportunities during the ‘crypto winter’.   The platform merges diverse approaches to digital asset management into single-click products to let investors gain steady profits in any market conditions — including the ongoing bear market. a custodial CeDeFi platform, CeDeFi: Unlocking the […]

Digital Assets

Bitcoin.com Wallet adds several ERC-20 tokens

The product expansion includes representatives of the DeFi world, the Metaverse, and the largest stablecoins.

Market News

Savvy Investors to Profit Whether the Stock Market Rebounds or Not

Equities have gone up enormously since the low. SP500 has gained 13.88% since June 17. In August, the indices drifted sideways. On Wall Street, veteran investors expect a move in either direction.

Industry News

Wall Street-backed MEMX obtains SEC approval for options trading platform

The company has raised more than $135 million in funding from 18 stock trading and investing heavyweights, including BlackRock, Citadel Securities, and Morgan Stanley.

Industry News

Amundi US launches ESG strategy that seeks to outperform S&P 500

Amundi’s Responsible investing team includes more than 45 specialists, and its ESG analysis covers more than 13,500 issuers across debt and equity.

Industry News

Verto launches embedded FX payments solution

The Verto API automates currency conversions, tracks payments and exchange rates in real-time, and is being launched in the follow-up of a $10 million in Series A funding last year.

Industry News

SEC awards over $16m to whistleblowers after another successful enforcement action

The program is 10 years-old and has arguably played a critical role in the Division of Enforcement’s ability to effectively detect wrongdoing, protect investors and the marketplace, and bring violators to justice.

Digital Assets

Ripple submits most succint explanation of Hinman issue in XRP lawsuit

It might be useful to get up to date as this could be the end of the road for the SEC.

Retail FX

TradingView integrates first Brazilian broker, Órama Investimentos

Órama offers all kinds of investment products, from fixed income to crypto-related funds.

<