CoinDCX, India’s largest cryptocurrency trading platform and liquidity aggregator, has announced its partnership with the leading global cryptocurrency exchange for futures and derivatives, OKEx. With this partnership, OKEx will gain unprecedented access to the Indian market—opening doors to massive liquidity in one of the world’s fastest-growing economies. At the same time, CoinDCX will have access to OKEx’s extensive experience in developing world-class futures products to bring more innovative service offerings to the market.
The partnership has been announced with the launch of CoinDCX’s new DCXfutures product amid increased demands for access to futures, options and higher leverage trading for the Indian market. DCXfutures will allow for up to 15x leverage trading on a host of leading digital assets futures, including BTC, ETH, XRP, BCH, LTC, EOS, ADA, and TRX. Users will also be able to trade perpetual future contracts with Bitcoin and Ethereum perpetual futures.
Commenting on the partnership, CoinDCX CEO and Co-founder Sumit Gupta said: “We have witnessed rapidly growing demand for futures trading among Indian cryptocurrency market participants. Our partnership with OKEx marks an exciting new chapter in our journey as we continue to strive to offer our customers innovative products and unparalleled market liquidity. With the huge potential of cryptocurrency markets to accelerate economic growth and wealth generation in India, we believe that this collaboration takes India one step closer to joining the ‘5 trillion dollar club’ as one of the fastest-growing economies in the world, allowing us to avail of new opportunities and take on new challenges.”
With a focus on consistent collaboration, this strategic partnership is set to accelerate the mutual development of both CoinDCX and OKEx, allowing each to strengthen its global service offerings and expand its customer base. As India’s most trusted cryptocurrency trading platform, CoinDCX will be able to provide OKEx with valuable strategic insight, liquidity, and connectivity within the Indian marketplace—which has been home to an increasingly active cryptocurrency community. At the same time, with OKEx’s stellar leverage options, CoinDCX users can have access to the kind of liquidity that was previously unimaginable in India.
Zac Zou, Head of OKEx India, said: “As one of the largest economies in the world, India is primed to be the driving force behind the mass adoption of cryptocurrencies, which is why we are keen on adding more equitable currencies to the ecosystem. We believe having a variety of options to transact digital currencies will bolster the growth of the economy in India as it positively impacts both crowdfunding and institutional funding”
With near negligible maker fees of 0.2%, substantial liquidity, high-level risk management, and a super-efficient trading engine, DCXfutures will offer users access to direct future contracts, inverse contracts, and perpetual contracts.
“We want to make cryptocurrencies accessible to anyone, no matter their level of experience in financial markets or level of income. We believe that the cryptocurrency ecosystem can benefit institutions, individuals, and whole economies if it remains committed to the principles of accessibility and usability. That is why CoinDCX is dedicated to building a one-stop solution for professional and retail traders alike with an intuitive interface for accessible, optimized user experience,” added Gupta.
DCXfutures is currently open for invitation-only access for select users. Once available to the general public, users will be able to access the newly-unveiled DCXfutures from a single wallet, which also supports the DCXlend, DCXmargin, DCXtrading, and DCXinsta products, wallet from Q2, 2020.