OKX, the second-largest cryptocurrency exchange globally by trading volume, has launched three innovative features to enhance transparency, security, and user control over digital assets. These advancements include Proof of Reserves (PoR), a self-audit tool, and an Independent Custodial Wallet for institutional clients.
Proof of Reserves: Boosting Transparency
OKX now offers a dedicated Proof of Reserves page showcasing:
- Real-time reserve ratios for supported cryptocurrencies.
- Details of third-party PoR audits to verify 1:1 asset backing.
This initiative ensures users can independently confirm their funds are fully backed by OKX’s reserves, aligning with the exchange’s commitment to transparency post-market turbulence.
Self-Audit Feature: User Empowerment
Launching this week, the self-audit tool allows clients to:
- Verify reserve backing for their holdings using up-to-date data.
- Initially supports Bitcoin (BTC) and Ethereum (ETH), with more assets added progressively.
- Includes regular PoR audits to update reserve balances and asset statuses.
👉 Explore how self-auditing enhances asset security
Independent Custodial Wallet: Institutional-Grade Security
OKX pioneers the first Independent Custodial Wallet for high-net-worth and institutional users, featuring:
- Real-time balance tracking segregated from exchange reserves.
- Private key ownership, granting clients full control over funds.
- Enhanced security protocols for asset safekeeping.
Why These Features Matter
Lennix Lai, OKX Director of Financial Markets, emphasized:
"Transparency rebuilds trust. Our tools let users validate asset backing, supported by third-party audits. The industry must prioritize openness to recover sustainably."
OKX safeguards over 20 million users worldwide, maintaining a 1:1 reserve ratio and a reputation for top-tier security.
FAQ Section
Q1: How often does OKX update its Proof of Reserves?
A: OKX conducts PoR audits regularly, with reserve ratios updated in real-time on its dedicated page.
Q2: Can retail users access the Independent Custodial Wallet?
A: Currently, this feature is tailored for institutional and high-net-worth clients.
Q3: Which cryptocurrencies are supported by the self-audit tool?
A: Initially BTC and ETH, with plans to expand support based on user demand.
Q4: How does OKX ensure 1:1 asset backing?
A: Through periodic third-party audits and publicly verifiable reserve data.
👉 Learn more about OKX’s security measures
Keywords: OKX, Proof of Reserves, cryptocurrency exchange, self-audit, custodial wallet, Bitcoin, Ethereum, asset security
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