On Friday (20 July 2018), around 04:00 (UTC), OKEx, the world’s second-largest digital asset exchange (by trading volume), announced support for Cardano (ADA).

This is how OKEx announced the news on its website:

“We are pleased to announce that Cardano ( ADA ) is now listed on OKEx. Please take note of the following go-live schedule:

1. ADA deposit – 16:00 Jul 20 (Hong Kong Time, UTC +8)

2. ADA spot trading (USDT, OKB, BTC, ETH Market) – 16:00 Jul 23 (Hong Kong Time, UTC +8)

3. ADA withdrawal – 18:00 Jul 24 (Hong Kong Time, UTC +8)”

Cardano’s addition to OKEx means that it now possible to trade the eight-largest cryptocurrency on eleven cryptocurrency exchanges: 

One reason for OKEx deciding to add Cardano is that it wanted to get ahead of Coinbase, which announced on 13 July 2018 that it is exploring the idea of adding support for Cardano.

On 12 April, OKEx, announced that it was planning to move to Malta (expected to complete by the end of Q3 2018), with Tim Byun, the company’s Chief Risk Officer and Head of Government Relations, stating:

“Malta’s Virtual Financial Asset Act is a solid foundation for the industry and the government to work together in fostering the nascent blockchain/digital asset industry. More specifically, Malta’s sound risk-based approach will help cultivate a responsible, compliant, and healthy ecosystem.”

And yesterday, as covered by CryptoGlobe, OKEx announced that it had “teamed up with MSX, the digital and fintech arm of Malta Stock Exchange Holdings to co-launch a new exchange to support Malta’s ‘Blockchain Island’ initiative.” The new joint venture (named OKMSX) is expected to be establish by Q3 2018. 

Finally, it is interesting to note what social trading network eToro said about Cardano in the research report it published on 17 July 2018: 

“Even though Cardano is still in its early stages, the complexity of the technology and
the pace at which it is progressing is extremely impressive.”


Featured Image Credit: Web Interface Image Courtesy of OKEx