OKEx, one of the largest crypto exchanges in the world, announced the launch of the ‘Digital Asset Exchange Open Partnership Program’. It will work on the white label method, the exchange said in a statement.
Usually the term ‘white label’ is applied to a service or product that a manufacturing company sells to another company for sale under its own brand. This method is also used by stock and broker companies.
“We will never stop innovating. And this Digital Asset Exchange Open Partnership Program, which is based on the concept of decentralization, is our best proof. We believe the program will make a difference to the blockchain industry and inspire more exciting ideas to come,” OKEx said.
In order to create a new cryptocurrency exchange, it is necessary to comply with a number of requirements put forward by OKEx:
- Provide a domain name and logo;
- Write detailed information about the team, which ideally should have experience in the industry
- Add 500,000 OKB tokens to the accounts ($ 2.5 million).
Candidates will be selected after meeting these conditions. Program participants will be able to use all the technical advantages of OKEx such as compliance system, cold and hot wallets, a clearing system, a customer support system, and an anti-money laundering system. In the first stage of the selection process, which will begin in July, 100 participants will be recruited.
OKEx, the subsidiary of the popular Chinese cryptocurrency exchange OKCoin, became the world’s largest cryptocurrency exchange by the amount of its turnover. The crypto exchange handles more than $2 billion of cryptocurrency trades per day and has outrun its eternal rival Binance.
By Ekaterina Ulyanova