The 3rd largest cryptocurrency exchange, OKEx has revealed it will start listing Tezos (XTZ) this week.
Based on reports, OKEx will start accepting deposits of XTZ from the 6th of November. Consequently, the coin’s spot trading against USDT and BTC kick starts on the 7th of November. The withdrawals begin on the 8th of November.
Increased participation and adoption
Tezos is an open-source platform for assets and applications. Besides, it is a multi-purpose platform for decentralized applications and smart contracts.
Former Morgan Stanley analysts Arthur and Kathleen Breitman structured the platform. Notably, stakeholders govern upgrades to the core protocol. For instance, changes to the amendment process itself without having to fork the network into two different blockchains.
Tezos also commands a market cap of over USD695 million and a 24-hour trade volume of over USD206k.
Corey Soreff, a member of the Board at Tezos Commons Foundation commented on the development. He said: “We’re looking forward to a thriving relationship with OKEx. A global leader in the blockchain space, in furthering the Tezos ecosystem together in Asia and throughout the world.”
Besides, the project is geared toward promoting long-term upgradability. And open participation to support mainstream adoption of blockchain technology.
OKEx’s Head of Operations, Andy Cheung said: “Tezos’s a highly respected project with a robust community. Thus, we’re happy to be able to add the value of the XTZ network to the OKEx ecosystem. We strive to deliver a one-stop-shop for professional and retail traders.”
Interestingly, the addition of Tezos comes after the launch of OKEx’s USDT Futures Trading, a linear futures contract. Also, enabling users to take the long position and profit (if a cryptocurrency gains in price). And vice versa: the short position (if a cryptocurrency plummets, the trader will profit).
OKEx boasts of being a top-tier cryptocurrency exchange headquartered in Malta. It offers over 400 token and futures trading pairs to millions of customers in more than 150 countries.
Besides, OKEx provides the most diverse trading products on the market, ranging from spot trading, fiat-to-token trading. As well as, margin trading and crypto derivatives. The company helps traders, miners, and institutional investors optimize their investment strategies.