Bitkub digital asset exchange, yesterday, August 1st, signed a memorandum of understanding (MoU) with Chinese cryptocurrency exchange OKEx. Mr. Sakon, The President of Bitkub, joined hands with OKEx to collaborate on digital asset trade and other future business. On occasion, Sakon said that this collaboration with OKEx would make Bitkub equivalent of foreign exchange. He added that this partnership is not limited to trade, and both companies will work to develop blockchain technology to serve people.
OKEx currently offers 404 tokens and futures trading pairs and serves 20 million users over 100 countries. Bitkub’s average daily trading volume is registered at around 1.69 million US dollars.
BCG co-founder and group chief executive Jirayut Srupsrisopa said that with this collaboration they expect an increase in trading liquidity. He mentioned that from some time, trading liquidity has been low because of fluctuations in the price of cryptocurrencies. He believes that cryptocurrency trading will gradually grow into a global trend.
OKEx was founded in 2014 by Star Xu. It is one of the top leading digital asset exchanges in trading volume and widely recognized as the gold standard for the industry. It also provides fiat-to-crypto currency, cryptocurrency-to-cryptocurrency, and derivatives trading services to global customers. Now this company has partnered with second-largest digital currency exchange in Thailand.
Bitkub.com was founded in 2018 it is licensed by the Thai Ministry of Finance to engage in fiat-to-token trading. As of now, the exchange has launched 26 trading pairs. This partnership looks to create a huge challenge for international exchanges who are looking to enter the Thai market.