Okcoin has partnered with PrimeXM, the low-latency connectivity, aggregation, and B2B trading technology firm, and became the first cryptocurrency exchange acting as a liquidity provider in the XCore community. PrimeXM’s XCore is a global marketplace of more than 250 institutional maker and taker firms that transact on average more than $55 billion per day in […]
Okcoin has partnered with PrimeXM, the low-latency connectivity, aggregation, and B2B trading technology firm, and became the first cryptocurrency exchange acting as a liquidity provider in the XCore community.
PrimeXM’s XCore is a global marketplace of more than 250 institutional maker and taker firms that transact on average more than $55 billion per day in foreign exchange (FX), spot metals, contract for differences (CFDs), futures, stocks, and exchange-traded funds (ETFs).
The XCore community includes top market participants such as CMC Markets, FXCM, Swissquote, and UOB Kay Hian and provides the freedom to choose their trading counterparties in a cost-efficient manner.
Okcoin is a regulated crypto exchange that offers segregated wallets/subaccounts, leverage, post trade settlement, and an depth of crypto liquidity for institutions to complete their crypto purchases and trades.
Okcoin is said to have been the first centralized exchange to offer direct entry into decentralized finance (DeFi) with Earn, a tool for earning APY through decentralized lending, liquidity pools, staking, and more.
The platform is made up of both the central limit order book system and OTC, supported by market participants from institutions and retail partners globally.
The integration with XCore will allow Okcoin to roll out hundreds of B2B/FIX API connections to financial institutions, giving standardized access to trade in digital assets to more brokers, hedge funds, family offices, proprietary trading desks, and e-trading platforms.
Okcoin will offer 24/7 connectivity and access to crypto investing and trading with a seamless experience for institutions using their existing technology stack.
Khairi Azmi, General Manager for Singapore and Head of Sales for Asia at Okcoin, commented: “We’re pleased to team up with PrimeXM to make crypto more accessible. The demand among institutions for crypto solutions is at an all-time high, making the integration of XCore a natural step for us to take. We look forward to bridging the gap between institutional trading and digital assets as part of the XCore community.”
Sam Su, Business Development Manager for Asia at PrimeXM, said: “We are excited to welcome Okcoin as a crypto exchange liquidity provider into our growing XCore trading community, enabling them to service their institutional clients with our technology. We look forward to working with the Okcoin team to establish new ‘win-win’ opportunities while connecting the booming digital assets market with traditional financial and e-trading platforms.”
PrimeXM was founded in 2010 and offers aggregation pricing and trading engine through its XCore technology, a B2B/FIX API engine supporting high-end MT4/MT5 bridging technology, which is integrated with hundreds of other 3rd party maker & taker OMS/EMS systems.