OKEx to Launch Crypto Index Fund

The new product was named OK06ETT and will give customers the opportunity to invest in a basket of six cryptocurrencies
05 June 2018   1062

One of the largest cryptoexchanges OKEx announced the launch of the cryptocurrency index fund, CCN reports.

The new product was named OK06ETT and will give customers the opportunity to invest in a basket of six cryptocurrencies through a fund whose shares will be traded on the exchange against the USDT.

At launch, OK06ETT will include bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), EOS, and OKB - the own utility token of the OKEx exchange.

Investors will also be able to buy back the fund for USDT or basic assets, which will not allow its rate to deviate too far from the net asset value.

It is noteworthy that the launch of the OKEx index fund took place a few days after a similar product was presented by the competing Huobi exchange. At the same time, the Singaporean company called its HB10 fund "the first crypto-currency ITF in the world".

By analogy with Huobi's HB10, minimal investments in OK06ETT are set at $ 100, which makes them affordable for retail investors.

OKEx Korea to Delist Anonymous Coins Due to FATF

Monero, ZCash, DASH, Horizen and Super Bitcoin won't be supported starting from 10th of October
16 September 2019   132

The Korean division of the OKEx cryptocurrency exchange has announced the delisting of five anonymous coins, as they violate FATF standards.

On October 10, the site will stop supporting Monero, ZCash, DASH, Horizen and Super Bitcoin.

Recall that the FATF obliged the bitcoin exchange and other cryptocurrency service providers (VASPs) to follow AML and CFT procedures similar to traditional financial companies.

VASPs must exchange the personal data of participants in transactions and information about the balance of their wallets.

OKEx Korea emphasized that anonymous cryptocurrencies will not allow the exchange to comply with these rules.