The following interview with Andy Cheung – Head of Operations of OKEx – has been realized exclusively for The Cryptonomist by Daniele Chicca and Matteo Oddi. Here is the English translation of the interview.
- Your company was founded in 2014. What was the concept behind its inception and how did the market change from your perspective?
- OKEx’s business is built upon simple core values: providing high quality trading services and being a responsible leader to promote digital assets for blockchain communities.
- The market has been growing exponentially since 2014, but we are still in the middle point of full adoption. Still, we believe digital asset will be the future of currency. And blockchain technology will continue to spread and disrupt other industries.
- Can you give us some updates regarding the advancement of your operations in Malta?
- OKEx will apply for a license for Malta office when it becomes
available. If we obtain a license, we expect to have a full team of local management, front office staff, as well as KYC and AML Officers.
- Do you see your sibling exchange OKcoin, that supports traditional fiat-to-crypto trading, expanding as well on the island?
- OKCoin.com is the global strategic partner with OKEx. OKEx’s expansion to Malta has no effect on existing global strategic partner’s operation.
- Your platform offers algorithmic trading tools designed for professional traders. How is developing this niche in your view?
- Algorithmic trading tools provided by OKEx allows automation of complex trading strategies in crypto markets. Professional traders can enjoy fast and customizable trading on OKEx.
- Recently OKEx launched its first utility token, OKB. The roadmap of the project shows that it will be “part of the world’s first blockchain ETF” and that aims to become “the base token” to build a global exchange. Could you elaborate more on that?
- We are planning to launch an advanced blockchain portfolio, and OKB will be a vital part of it, along with 5 public chain tokens by market capitalization. It is still at the development stage but we are making good progress. We will disclose more details at a later stage.
- What is the advantage of C2C trading?
- C2C trading is a decentralized platform allowing our users to perform transaction freely with each other. OKEx’s C2C digital trading platform is introducing a distinctive feature – verified merchants to reduce the counterparty risk. At this moment, we do not charge any service fees for the trades in C2C area.
- Blockchain has many potential use cases and applications in the real economy; at the moment, which is your favourite example of blockchain integration in an existing business?
- One of the projects is OKLink – a Blockchain project under OK group and it is a global settlement platform that supports Blockchain remittance network.
- How soon will the transition to a “token economy” take place? What kind of new rules and regulations are required to make that happen?
- We have no crystal ball for the “token economy” taking place but as per our observation, the blockchain ecosystem has continued to flourished in recent years with mature adaptation and development.
- Blockchain-friendly framework would be great for the industry and OKEx will be actively involved in the blockchain and cryptocurrency ecosystem.