- OKEx rebrands and renames itself as OKX.
- States it’s no longer only an exchange platform for crypto.
- Soon to venture into DeFi, NFT, Web3 and much more.
Everyone in the crypto sector obviously knows that the OKEx is the second-largest global crypto exchange in the world, next to Binance, in terms of spot trading. Becoming a standard crypto exchange platform is not an easy play over time. And moreover, maintaining the position as the top second is even tougher. Suitably, continuous research and developments are extremely necessary in order to survive forward in the crypto industry.
Therefore, as the first official step towards developing and revamping itself, OKEx has rebranded itself, renaming it as ‘OKX’ from OKEx. Hence, the crypto exchange platform will be from now on known only as OKX.
The Renaming and Rebranding
As previously stated, OKX officially declared that from January 18, 2022, the exchange platform will be known only as ‘OKX’ and not OKEx. This seems to be the first step towards the much-expected revamp from the OKX platform.
Accordingly, the platform states that the ‘E’ which stands for exchange has been removed, as they like to point out that they are more than just a crypto exchange platform.
True to the fact, the OKX was started about in the year 2017, much earlier than that of the Binance. However, though being older than Binance, still the OKX tags behind Binance. The overall trade volume for 24 hours for Binance amount to $14 billion, whereas that of OKX is only $5 billion.
The CEO’s Views
In spite of all this, the CEO of OKX, Jay Hao terms that their ultimate goal is to completely satisfy the users by providing them with more tools, easing their usage, and increasing their transaction speeds. Furthermore, he exclaims that this change of the name and dropping the ‘E’ is to depict that they are more than an exchange. In addition, Jay Hao states that they will soon be enticing into almost all attributes of the crypto ecosystem, like Decentralized Finance(DeFi), Non Fungible Token (NFT), Web3, and so on.
