The Seychelles-registered cryptocurrency trade OKX launched its eleventh consecutive per month Evidence of Reserves (PoR) record which encompasses 22 repeatedly used virtual property and presentations balances of $11.2 billion in number one property.

OKX is the one crypto trade that has made it a ritual to submit PoRs for just about a 12 months with which the platform published witnessed the engagement of loads of 1000’s of customers.

OKX’s eleventh Evidence of Reserves record

As consistent with the just lately launched record, OKX is overcollateralized with a reserve ratio of 102% for Bitcoin (BTC), 103% for Ethereum (ETH), and 102% for USDT.

Moreover, the crypto trade additionally covers XRP, Dogecoin (DOGE), Solana (SOL), OKB, Aptos (APT), DASH, Polkadot (DOT), EOS, Ethereum Vintage (ETC), Filecoin (FIL), Chainlink (LINK), Litecoin (LTC), Tron (TRX), Uniswap (UNI) amongst others.

The September PoR record additionally published that the USD price of its reserves has higher by means of greater than 7.6% since August, when the crypto trade recorded $10.4 billion in reserves.

Following the discharge of its eleventh consecutive Evidence of Reserves record, OKX International Leader Business Officer Lennix Lai highlighted the trade’s “dedication to larger transparency and agree with throughout the crypto business.”

“At OKX, we consider that integrity is the cornerstone of our good fortune, and our PoR stands as a testomony to our willpower to safeguarding consumer property. As we method a complete calendar 12 months of consecutive PoR releases, we have now by no means been extra dedicated to proceeding to lift the bar for transparency in our sector.”

The most recent building comes only a few days after OKX finished its twenty first quarterly spherical of burning greater than 6.1 million OKB (price over $265 million). The development used to be a part of its “Purchase-Again and Burn” program, which used to be initiated in Might 2019 and has resulted within the trade doing away with 70 million tokens from the circulating provide.

Growth Plans

Regardless of vital drawdown within the crypto marketplace, OKX unveiled plans to increase its footprint in Hong Kong by means of in search of digital asset licenses throughout the new regulatory framework, along with pursuing Sort 1 and seven licenses below the Securities and Futures Ordinance.

The crypto trade does no longer have a world headquarters; as a substitute, it operates throughout a number of regional hubs in Hong Kong, Singapore, Dubai, and the Bahamas.

Previous this month, the trade additionally introduced its goal to go into the Indian marketplace and rent native staff to make bigger the probabilities of Web3 packages.