OKEx Expands into India's Crypto Market by means of Partnership with Local Exchange
By Luke Flowers – Crypto Broker
Despite some uncertainty about cryptocurrency regulation in India, one of the leading global exchanges, OKEx, is making another move to gain access to the country's market to help people buy and sell cryptocurrency.
On February 14th, OKEx partnered with India's largest Cryptocurrency trading platform, CoinDCX, to launch a new crypto futures product in India.
As a part of the partnership, OKEx is taking an enormous step into the Indian cryptocurrency market, allowing greater liquidity with its broad expertise in developing world-class futures, CoinDCX said in a statement to CoinTelegraph.
The partnership has been said to enable DCXfutures and new crypto futures products allowing users to trade these products against major cryptocurrencies with a reported 15x leverage.
According to the company, futures contracts for at least eight coins will be available at first, including Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), EOS, Cardano (ADA), and Tron (TRX). Further to this, customers can trade perpetual future contracts with Bitcoin and Ether, the statement reads. It also allows a place for people who don’t know where or how to buy Bitcoin to speculate on the price but never own the asset themselves. Buying Bitcoin from our platform, you will be purchasing the asset itself.
Maker fees will be at 0.2% when DCXfutures launches, but the service is initially open to select customers on an invitation basis. Once made available to the general public, users will be able to access the DCXfutures from the same wallet.