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Cryptocurrency exchange OKEx has announced the launch of a new price feed called OKEx Oracle that can be used by decentralized finance (DeFi) startups to gain access to on-chain prices.

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According to an official press release that was shared with iHodl, OKEx Oracle is a fully-open API which means that it is available for non-OKEx clients as well.

"The price feed is signed by the OKEx exchange, and the private key is kept secure in its robust infrastructure. Anyone can verify the source of the data on-chain by using the OKEx Oracle public key," the exchange said.

OKEx CEO Jay Hao says the oracle "is 100% accurate" and it also helps to ensure the security of users' assets and the longevity of the protocols they are using.

"At OKEx, we are firm believers in DeFi and are convinced that it will lead to the next wave of valuable (blockchain-based) applications that will ultimately help onboard the next wave of crypto adopters," Hao added.

Previously, iHodl reported that cryptocurrency exchange OKEx launched a peer-to-peer trading platform in India, allowing Indian users to buy & sell cryptocurrencies with Indian rupees (INR) with zero transaction fees.

OKEx Becomes Largest Platform by Whale Trades

According to an official press release, the OKEx P2P trading platform offers bitcoin (EXANTE: Bitcoin) and tether (USDT) pairs for INR. In addition to the lowest price, the deepest market and the fastest KYC process provided by OKEx, users can also use India’s most widely used payment methods — including UPI, IMPS, NEFT, etc.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

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