OKEx partners with India-based CoinDCX
In addition, CoinDCX announced the launch of its new DCXfutures product as demands have increased for access to Futures, Options and higher leverage trading in India’s market.
With DCXfutures, there will be a maximum of 15x leverage trading for renowned cryptos like BTC, ETH, XRP, BCH, LTC, EOS, ADA, and TRX.
According to the CEO and join founder of CoinDCX, Sumit Gupta, the exchange believes that this collaboration will push the country to be among the fastest-growing economies worldwide based on the massive potential of crypto markets towards accelerating economic growth and wealth generation. He continued that it would offer new opportunities and address new challenges.
At the moment, access to the DCXfutures option is only through invitation. According to the press statement, DCXfutures will be accessible to the public from the second quarter of this year.
The head of OKEx India, Zac Zou talked about the potential of India to prompt crypto adoption exponentially. He said the country is in the position to drive massive adoption of cryptos, which is the reason for the exchange’s effort to add more equitable currencies to the domain.
Before this announcement, the Malta-based exchange Binance announced the integration of its P2P trading platform with one of the biggest cryptocurrency exchanges in India, WazirX.
As the number of exchanges outside India in partnership with international exchanges keeps increasing, the regulatory domain for cryptocurrency seems somewhat positive in the country. Numerous unbanked populations in India can benefit from exposure to digital assets.
Featured image courtesy of Shutterstock. Source: Cryptopress.