OKEx to Release Own Token

Exchange reported that the launch of the token does not imply an ICO
26 January 2018   1199

The new token, released by OKEx, called OKB and was originally based on the ERC-20 standard.

As the exchange's message says, at the moment a significant part of the information regarding OKB is still confidential, and additional details will be disclosed soon.

Nevertheless, the exchange already declares that the launch of the token does not imply an ICO. In addition, in the future, OKB will be transferred to its own OKChain exchange. OKB will become a key part of the architecture and development of the exchange, while it will be accepted not only on OKEx, but also in other projects of the company.

In total, it is planned to issue 1 billion OKB tokens, 50% of which will be distributed free of charge to OKEx users, which will allow them to take a more active part in the further development of the exchange.

In addition, as the exchange explains, 20% of tokens (200 million) will be reserved for developers. During the first year they will not be available for withdrawal, after which they will be issued at a rate of 20 million per year.

Another 10% (100 million) of tokens will be sold to the world financial institutions at a price of 1ETH = 2000 OKB. 50% of them will be "locked" for the first six months. Another 10% will be transferred to early investors with a grace period of 2 years and the operational activities of OK Blockchain (3 years), respectively.

Binance to Partner with Chainalysis for AML

Use of Chainalysis KYT solution will allow to compile with KYC- and AML-norms and also simplify the process of opening bank accounts
18 October 2018   83

The largest exchange by daily trading volume Binance uses software from Chainalysis, called Chainalysis KYT [know your transaction], to monitor real-time transactions and identify transfers related to criminal activity. This is stated in a joint press release.

Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.

Jonathan Levin

Co-Founder and COO, Chainalysis

Thus, the use of software from Chainalysis not only guarantee compliance with the KYC- and AML-norms, but also simplify the process of opening bank accounts.

By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.

Wei Zhou

CFO, Binance

Chainalysis KYT release was held in April.