OKEx Named “Crypto Exchange of the Year” at Malta’s Cryptocurrency Conference

  • OKEx has recently been named "Crypto Exchange of the Year" at Malta's blockchain conference for contributing to the country's blockchain scene.
  • It was awarded the prize after beating finalists Binance and BitBay.

Popular cryptocurrency exchange OKEx, which recently started setting up operations in Malta, has recently been named “Crypto Exchange of the Year,” during the Malta Blockchain Summit’s Blockchain Awards.

According to a recently published press release, the awards were organized to recognize businesses, experts, and leaders in the sector that have made an “outstanding contribution to the blockchain technology development in Malta.”

OKEx, a cryptocurrency exchange that recently delisted 58 trading pairs, received the award after it was judged by 32 industry leaders and executives “with combined experience in the blockchain industry.” Other finalists included leading exchange Binance and BitBay, which moved to Malta after facing a banking blockade in Poland.

OKEx’s head of operations Andy Cheung was quoted as saying:

These awards are particularly gratifying as they reflect a vote of confidence from industry leaders, who recognize our ongoing efforts. Like we said, we dare to innovate and will keep pushing the limits of what is possible.

Cheung added that receiving the award is “truly a testament” to the exchange’s efforts in improving the cryptocurrency ecosystem and “revolutionize our world with blockchain technology.”

The cryptocurrency exchange was founded in 2017, and has over 400 tokens listed on its platform, which also offers its users futures trading options. Earlier this year, it had to introduce new measures after its “clawback model” forced profitable traders to cover the losses on a $416 million-leveraged long position.

Malta’s cryptocurrency conference this year reportedly attracted over 5,000 attendees, and featured a Crypto Cruise, the Blockchain Awards Ceremony, an ICO Pitch, and a Hackathon. The country is seen as the “blockchain island” thanks to its forward-thinking approach when it comes to crypto and blockchain technology.

As CryptoGlobe covered, the country’s Prime Minister has called cryptocurrencies the “inevitable future of money,” and Malta has earlier this year become the first country to establish a full regulatory framework for distributed ledger technology (DLT). It has also proposed a test back in April, that would help identify when ICO-issued tokens are securities.