Caspian has decided to join hands with OKEx exchange to facilitate their new plans. This is in bid to improve the infrastructure to suit the adoption of institutional cryptocurrency trading.
The online crypto trading & risk management company has decided to take its activities to another level. Their plans to support OKEX crypto institutional trading is leading them to expand towards China. Let’s recall that Caspian operates as a joint venture. The company belongs to a blockchain firm, Kenetic operating in Hong Kong and Tora, an asset management Tech supplier. These two owners seem to be top shots in their industries. However, their recent plans are leading them to expand the company further.
OKEx Needs Caspian Support for New Venture
OKEx institutional crypto adoption has necessitated the company to seek leverage from Caspian. OKEx Exchange hasn’t been long in the industry, yet it is quickly becoming one of the best crypto exchanges you can find in Hong Kong.
The exchange started operating in 2017 with headquarters in Hong Kong. Although it is barely two years since its establishment, the company has been expanding rapidly when you compare to others. Right now, it has enlarged so much that there is a report about OKEx plans to create a blockchain. According to the report, they intend to introduce OKChain as the new OKEx blockchain.
Recently, the exchange expanded its operations to Malta. We are not surprised because an ambitious company like them will always utilize every opportunity to grow. According to what we gathered, Malta embraces blockchain more than other countries. This acceptance and usage led people in crypto circles to call it the “Blockchain Island.”
How Caspian will Support OKEx Institutional Adoption.
From what we could gather, the partnership to support the institutionalization will necessitate OKEx to open its operations. Caspian will integrate some of its platforms such as spot product and cryptocurrency futures. According to the two partners, their first focus will be to conquer the Chinese crypto market. Afterward, the partnership will expand to other markets globally.
The OKEx vice president James Jiang has made some statements about the partnership. According to him, they are hopeful that the partnership will yield great results. He also mentioned that China and other countries might likely institutionalize cryptocurrencies. As such, they are delighted about this opportunity to join hand with Caspian. This partnership, he stated, will also enable them to facilitate the needs of their clients.
Another comment we got about the new development is from one of the strategic advisors of Caspian. According to Lewis Fellas, the company has what it takes to bring institutional investors into the crypto markets. Fellas also mentioned that Caspian had removed some of the barriers that were hindering the entrance of institutional clients. He went further to state that the company will continue to assist in expanding the crypto asset class.
Let’s recall that Caspian is popular for being an institutional-grade trading system. The company also raised $16million during their pre-token sale. So, it is safe to say that the platform can assist OKEx to accommodate institutional clients.