OKX, the second-largest crypto exchange by trading volume globally and a leading Web3 technology company, has issued updates for the day of July 5, 2023.
OKX Partners with Pulsar to Boost Liquidity for Hong Kong Users
OKX has partnered with Pulsar, a market maker, to deepen liquidity for Hong Kong users. The partnership demonstrates OKX’s commitment to standardizing its virtual assets market by onboarding top-tier liquidity providers, in line with global best practices in traditional finance as well as regulatory requirements for virtual asset trading platform operators in Hong Kong.
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Through this partnership, Pulsar has been designated as a liquidity provider for OKX in Hong Kong. This further enhances OKX’s market efficiency, providing Hong Kong users with access to more competitive pricing and deeper liquidity on the order book. Founded in 2014, Pulsar has a strong global presence and relationship with more than 60 exchanges across more than 600 trading pairs.
OKX Global Chief Commercial Officer Lennix Lai said: “By tapping into Pulsar’s expertise in market making, we are able to further enhance the stability of our platform by providing more competitive pricing and tighter bid-ask spreads for our users. This partnership also helps us further align our virtual asset market with best practices from around the industry but also from traditional finance when it comes to ensuring liquid and fair markets. Looking ahead, we are committed to improving the efficiency of our platform and providing a secure and accessible trading experience for our users.”
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Pulsar CEO Jacky Chung said: “We’re honored to partner with a leading exchange like OKX, which shares our goal of providing a flexible and convenient trading experience that prioritizes competitive pricing. We look forward to working with OKX to accelerate the future evolution and adoption of virtual assets in Hong Kong.”
OKX announced in March that it had set up a Hong Kong entity for its proposed license application under Hong Kong’s new VASP regulatory regime. In view of Hong Kong’s latest regulatory requirements on VASPs, OKX launched an updated app that allows Hong Kong users to buy, sell and hold 16 major cryptocurrencies. OKX will continue to roll out improvements on its app and explore the potential of launching additional features in the coming months to enrich and diversify Hong Kong users’ experience.
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