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OKDAX launched in Dubai, to drive blockchain growth

OKDAXOKDAX, a crypto trading platform based in Dubai was launched where the exchange is partnering with District 2020, SINOLINK INNO HUB and Dubai Blockchain Center, with a network covering the Middle East and North Africa (MENA) region and Asia-Pacific along with extending all the way to Europe and North America. The platform is expected to become a new driver for blockchain growth in the Middle East and, it will provide quality trading services to global users and grow in line with leading crypto projects around the world.

OKDAX plans to open its office in District 2020, which will be an innovation hub for the Dubai Expo 2020. It is applying for approval with Dubai Financial Services Authority in the Dubai International Financial Centre (DIFC), and the Financial Services Regulatory Authority in the Abu Dhabi Global Market (ADGM).

With the support of the Dubai government, OKDAX stated that it is able to extend its reach from MENA to the world, while attracting global resources, including agencies, investment banks, funds and traders. At present, it has over 300,000 registered users from MENA, Europe, US, Japan, DPRK and ASEAN with effective DTU (daily trading user) of more than 5,000.

The crypto platform is a strategic investor in blockchain media outlets – tuoniaox.com and blockmena.io, based in Mainland China and MENA respectively. OKDAX has launched a growing fund to buy tokens from the market with 50 percent of its profits. It will urge projects to withdraw outstanding tokens and help them with repurchase and destruction to create a deflationary effect of tokens. The fund will also invest in prominent projects, asset management products and other funds.

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