Mumbai, India — CoinDCX, India’s largest cryptocurrency trading platform and liquidity aggregator, has announced its partnership with the leading global cryptocurrency exchange for futures and derivatives, OKEx. With this partnership, OKEx will gain unprecedented access to the Indian market—opening doors to massive liquidity in one of the world’s fastest growing economies. At the same time, CoinDCX will have access to OKEx’s extensive experience in developing world-class futures products to bring more innovative service offerings to market.
The partnership has been announced with the launch of CoinDCX’s new DCXfutures product amid increased demands for access to futures, options and higher leverage trading for the Indian market. DCXfutures will allow for up to 15x leverage trading on a host of leading digital assets futures, including BTC, ETH, XRP, BCH, LTC, EOS, ADA, and TRX. Users will also be able to trade perpetual future contracts with Bitcoin and Ethereum perpetual futures.
Commenting on the partnership, CoinDCX CEO and Co-founder Sumit Gupta said: “We have witnessed rapidly growing demand for futures trading among Indian cryptocurrency market participants. Our partnership with OKEx marks an exciting new chapter in our journey as we continue to strive to offer our customers innovative products and unparalleled market liquidity. With the huge potential of cryptocurrency markets to accelerate economic growth and wealth generation in India, we believe that this collaboration takes India one step closer to joining the ‘5 trillion dollar club’ as one of the fastest growing economies in the world, allowing us to avail of new opportunities and take on new challenges.”
With a focus on consistent collaboration, this strategic partnership is set to accelerate the mutual development of both CoinDCX and OKEx, allowing each to strengthen their global service offerings and expand their customer base. As India’s most trusted cryptocurrency trading platform, CoinDCX will be able to provide OKEx with valuable strategic insight, liquidity, and connectivity within the Indian marketplace—which has been home to an increasingly active cryptocurrency community. At the same time, with OKEx’s stellar leverage options, CoinDCX users can have access to the kind of liquidity that was previously unimaginable in India.
Zac Zou, Head of OKEx India, said: “As one of the largest economies in the world, India is primed to be the driving force behind the mass adoption of cryptocurrencies, which is why we are keen on adding more equitable currencies to the ecosystem. We believe having a variety of options to transact digital currencies will bolster the growth of economy in India as it positively impacts both crowdfunding and institutional funding”
With near negligible maker fees of 0.2%, substantial liquidity, high-level risk management, and a super-efficient trading engine, DCXfutures will offer users access to direct future contracts, inverse contracts, and perpetual contracts.
“We want to make cryptocurrencies accessible to anyone, no matter their level of experience in financial markets or level of income. We believe that the cryptocurrency ecosystem can benefit institutions, individuals, and whole economies if it remains committed to the principles of accessibility and usability. That is why CoinDCX is dedicated to building a one-stop solution for professional and retail traders alike with an intuitive interface for an accessible, optimised user experience,” added Gupta.
DCXfutures is currently open for invitation-only access for select users. Once available to the general public, users will be able to access the newly-unveiled DCXfutures from a single wallet, which also supports the DCXlend, DCXmargin, DCXtrading, and DCXinsta products, wallet from Q2, 2020.
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CoinDCX is India’s largest cryptocurrency trading platform and liquidity aggregator, providing access to massive global liquidity from the world’s leading crypto-exchanges, including Binance, HitBTC, and Huobi Global. Established in 2018, the platform is today deemed by many market participants as India’s most trustworthy cryptocurrency trading platform.
CoinDCX offers users an integrated suite of products, including DCXTrade, allowing users to trade in more than 500 markets, DCXInsta, providing fiat onboarding from Indian Rupees (INR) to crypto, DCXlend, a decentralised lending service, and DCXmargin, for up to 6x leverage trades across more than 250 markets. With a powerful yet simple interface, CoinDCX provides a fast and reliable trading experience for professional and novice customers alike. Prioritising user security, the online platform employs geographically distributed cold wallets, multi-signature authentication, prevention from DDOS attacks, regular stress testing, and 2-Factor Authentication are deployed to ensure the platform’s safety.
OKEx is one of the world’s leading digital asset exchange headquartered in Malta, offering a comprehensive suite of digital asset trading services that include fiat-to-token, token-to-token, futures, options, and derivatives trading to users globally. As of now, over 400 spot and derivatives trading pairs are live on our platform for users to optimize their trading strategies. With a safe, reliable, and stable environment for digital asset trading, OKEx serves millions of customers in more than 200 countries and regions.