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OKX Leads the Way in Transparency and Trust with 14th Consecutive Proof of Reserves, Showing USD14.9 Billion in Primary Assets

Published on Dec 20, 2023

Updated on Apr 25, 2024

Dubai, the UAE, December 20, 2023 -- OKX, a leading global Web3 technology company and crypto exchange, today announced the publication of its 14th monthly Proof of Reserves (PoR) report, demonstrating USD14.9 billion in primary assets backing user funds.

OKX's PoR report provides a comprehensive overview of the reserve ratios for 22 of the most commonly used assets on the platform. Its 14th consecutive monthly PoR report reveals reserve ratios of over 100% for all of these assets, ensuring full backing of user funds.

The current reserve ratios for OKX's primary assets are as follows:

BTC: 103%
ETH: 104%
USDT: 103%
USDC: 101%

OKX Global Chief Commercial Officer Lennix Lai said: "Our monthly Proof of Reserves reports demonstrate our ongoing commitment to providing a platform - and trading experience - that is secure, reliable and trustworthy. OKX aims to continue setting an industry standard for transparency by providing users with the tools and resources to verify reserves in real-time."

OKX recently added USDC to its PoR report's "primary asset" figure. This inclusion acknowledges the growing prominence of Circle Internet Financial's (Circle) stablecoin on the exchange.

Renowned blockchain expert Nic Carter recently recognized OKX with the highest quality rating among major exchanges. This acknowledgment further solidifies OKX's position as a leader in the crypto industry and reaffirms its continuous commitment to transparency and user trust.

Users can view OKX's latest PoR report, reserve ratios and verify the exchange's solvency here.

Disclaimer

This article may cover content on products that are not available in your region. It is provided for general informational purposes only, no responsibility or liability is accepted for any errors of fact or omission expressed herein. It represents the personal views of the author(s) and it does not represent the views of OKX. It is not intended to provide advice of any kind, including but not limited to: (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, accounting, legal, or tax advice. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. OKX Web3 features, including OKX Web3 Wallet and OKX NFT Marketplace, are subject to separate terms of service at www.okx.com.
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