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 as below as well.
- BTC/USDK · ETC/USDK · TRX/USDK
- LTC/USDK · BCH/USDK · BSV/USDK
- ETH/USDK · EOS/USDK · USDT/USDK
- OKB/USDK · XRP/USDK
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 1 USD from the Prime Trust Special Account. With a guaranteed 1:1 conversion rate between USDK and USD, the monetary value is 100% reserved. The smart contract of USDK has passed the audit by Certik and SlowMist. Also, an audit firm will provide monthly reports for maximum transparency to the public.
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Prime Trust is a US trust company that is committed to the blockchain industry. Chartered by the banking commissioners office in Nevada, it provides a wide range of services including custody, trust, escrow, funds processing, AML compliance and transaction technology to customers located in the US and internationally.
“Compliance, transparency and orderly development is the inevitable direction for stablecoins. In the long run, this kind of stablecoins will definitely be the first choice for all cryptocurrency exchanges,” Jay Hao, CEO of OKEx, said on Weibo earlier. “For OKEx, priority will also be given to its compliance and transparency background when deciding which stablecoin to be launched.”