Cryptocurrency exchange OKEx, has reportedly donated $4.5 million worth of bitcoin (EXANTE: Bitcoin) to its perpetual swap market insurance fund, according to a press release that was shared with iHodl.
OKEx is a cryptocurrency exchange with headquarter in Malta, that offers digital asset trading services including fiat-to-token trading, spot trading, futures trading, and perpetual swap trading to traders globally with blockchain technology.
The main goal of the donation is to foster customers’ confidence in trading cryptocurrencies. It's expected that the donation will now provide an extra layer of protection to the customers, further "ensuring that all customers’ interests are safeguarded."
Andy Cheung, the Head of Operations of OKEx, says the exchange strives for developing a healthy trading environment.
"No clawback has occurred on OKEx perpetual swap since its launch. We introduced a new risk management system to strike a better balance between avoiding early liquidation and maximizing traders’ benefits," Cheung added.
Earlier iHodl reported that Bitfinex, another large crypto exchange, listed OKB, a native token of the OKEx cryptocurrency exchange.
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