OKEx Sister Firm OKLink Will Launch Its Stablecoin Today

According to an official representative who made comments which went viral in the latest cryptocurrency news, the global settlement firm will launch a stablecoin. The OKEx sister firm OKLink has announced the creation of the stablecoin today, June 3, sharing it with many cryptocurrency news sites.

In an official email, the OKEx representative noted that the stablecoin – dubbed USDK – will be officially launched today in partnership with the United States based custodian Prime Trust. On June 2, OKLink posted scans of the agreement between the OKEx sister firm OKLink and Prime Trust on Twitter.

Meanwhile, Star Xu who is the founder of exchange services provider OKCoin and OKEx recently announced OK Group’s partnership with the trust company and his plans to launch a stablecoin. There is no information about the current head of the OKEx sister firm OKLink and its decision making.

However, what’s known in the altcoin news is that Prime Trust is one of the trust companies that manages the escrow accounts that hold collateral for its competitor stablecoin, TrueUSD. The firm is also reportedly the partner which enables fiat trading on the US-based version of the top cryptocurrency exchange Huobi.

Right now, OKEx is the world’s second largest cryptocurrency exchange by its adjusted daily trading volumes. It is seeing more than $1.8 billion in trades daily (and over the past 24 hours to press time).

As we published before this news about the OKEx sister firm OKLink, the company has been developing its own decentralized exchange (DEX) and blockchain called OKChain. As the coming altcoin news show, the blockchain is reportedly ready in the final development stage and the company expects to launch its ‘test net’ this month.

Meanwhile, a while ago we reported that the dubbed decentralized exchange developed by major cryptocurrency exchange Binance will block access to its users which are based in 29 countries. The DEX has informed potential users of the restriction through a message that appears when accessing the platform from one of the blocked regions.

All in all, the OKEx sister firm OKLink has proven that it is another big player in the stablecoin industry.
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Let’s just hope to see everything official.