OKCoin is listing Avalanche (AVAX) for trading on its exchange. Interested users can now deposit AVAX on OKCoin, and trading will go live at 7 p.m. ET on February 3, followed by withdrawals starting on February 4.
Launched in 2013, OKCoin is a global cryptocurrency exchange licensed in 44 U.S states and based out of San Francisco. It enables users across 184 countries to easily transition between crypto and fiat currencies with on/off ramps to the US dollar, Euro, and Singapore dollar.
In choosing to list Avalanche, OKCoin found the low fees, near-instant transaction execution, and growing roster of DeFi projects on Avalanche to fit well with its broader campaign to provide DeFi users more control over their fees and trading opportunities. OKCoin recently launched their own non-custodial ‘Earn’ product which is built on DeFi that enables users to stake on DeFi protocols and earn up to 20% with stablecoins and a simple interface.
Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. It is the first smart contracts platform that processes 4,500+ transactions/second and instantly confirms transactions. Ethereum developers can quickly build on Avalanche as Solidity works out-of-the-box.
In just the last month, DeFi applications including Reef Finance, bZx, YIELD App, and UNION have all committed to native integrations on Avalanche. e-Money, a leading issuer of interest-bearing, currency-backed stablecoins, is also launching its suite of European-currency stablecoins and Digital Euros (EUR) on Avalanche, joining top-five fiat-backed stablecoin TrueUSD as native assets on the platform.
These applications will leverage the Avalanche-Ethereum Bridge (AEB) developed by ChainSafe, Protofire, Hashquark, POA Network, Avascan, and Meter.io, who will be securing the bridge and enabling the seamless flow of assets between these networks.