June 30, 2023, Dubai, United Arab Emirates in a news release, breaking over USD 3 billion in institutional trading volume, OKX. It is a prominent Web3 technology business and the second-largest cryptocurrency exchange by trading volume, has reached a significant milestone.
The outstanding accomplishment stands as evidence for the effectiveness of OKX’s Liquid Marketplace. OKX designed the ‘Nitro Spreads’ function as an on-demand liquidity network for institutional traders. The platform regularly met the expectations of institutional traders by offering substantial liquidity and dependable execution.
OKX introduced the ‘Nitro Spreads’ function to the Liquid Marketplace, providing OTC, futures spreads, and options liquidity network. With only one click, this function enables traders to carry out intricate basis traders easily.
JUST IN: 💰#OKX liquid marketplace exceeds over $3 billion in institutional trading volume.
— Walletor (@walletorapp) June 30, 2023
OKX will extend the Nitro Spreads functionality to more institutional clients starting on July 5. Initially, OKX offered the functionality to a limited group of individuals who applied for early access. This was done through the Liquid Marketplace website.
OKX: Pioneering Cryptocurrency Exchange
In the cryptocurrency market, Nitro Spreads is among the few basic trading tools that execute simultaneous trade legs through a central order book. Its unique offering sets it apart from others. This change ensures the removal of market-to-market leg risk and guarantees the simultaneous completion of the trade’s two legs. Traders can reduce the danger of one leg of a deal being closed without the other by selecting a guaranteed spread for their trades. OKX had previously reported a trading volume of $1 billion within the first three months of the year in April 2023. Surprisingly, the trade volume has astonishingly increased by more than three times by the end of June 2023.
By forming alliances with companies like Komainu, OKX is extending its custody solutions and enhancing its offers for institutional users. These partnerships seek to combine capital efficiency, cost, and security while giving institutional clients greater transparency and control over their money.
OKX solidifies its position as a leading cryptocurrency exchange by utilizing the success of its Liquid Marketplace. It effectively caters to the evolving needs of institutional traders. OKX’s surpassing of USD 3 billion in institutional trading volume demonstrates its commitment to innovative cryptocurrency solutions. It solidifies their position as a leader in the industry.