Digital assets exchange OKEx is building up its own decentralized digital assets exchange and blockchain, as indicated by a blog entry distributed on March 22, 2019.

As per the company’s post, OKEx has been building up its own blockchain named “OKChain,” which right now is purportedly in the last advancement stage. The organization hopes to put out a testnet in the second quarter of 2019. OKChain will fill-in as the base for OKEx’s decentralized digital assets exchange.

According to the announcement:

“OKB will be the native token of the OKChain network, which can be used to settle transaction fees, or used in the Dapps [decentralized apps] developed on OKChain.”

Aside from that, the post talked about how OKEx’s local utility-token OKB will be put onto the ERC-20 blockchain before the end of April 2019 and will be relocated to the OKChain mainnet once the OKChain becomes stable. OKB will purportedly likewise be utilized for token pre-deal.

In February this year, OKEx propelled support for Thai baht-crypto trading on its customer-to-customer feature, with just Bitcoin (BTC), Tether (USDT), Ethereum (ETH) and Litecoin (LTC) being exchanged with the Thai baht on the P2P platform.

This year in January, OKCoin and OKEx founder, Star Xu, purchased a controlling offer in LEAP Holdings — a Caymans Island-consolidated development building firm, which is currently listed on the Hong Kong Stock Exchange.

In December 2018, OKEx propelled another crypto subsidiary item called Perpetual Swap, which gives its clients a chance to hypothesize on the future estimation of Bitcoin/USD, as per OKEx’s list. OKEx’s unending swaps supposedly have no termination, signifying “positions can be uncertain.”

OKEx is right now the world’s eight biggest digital currency exchange by adjusted daily trade volumes, seeing about $615 million in trades on the day at press time. OKEx’s move has made it clear that having a decentralized exchange is an accessory which has become the latest necessity for all crypto exchanges.

Let us know your thoughts about OKEx building its own blockchain in growing further into the crypto market.