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OKX, the technology company and leading crypto exchange that plays a leading role in building the future of the Web3 ecosystem, holds main assets worth 14.5 billion USD in its reserves of user assets, according to its 13th monthly Proof of Reserve (PoR) report published today. Since OKX launched the PoR program in late 2022, the number of users viewing reserve data or verifying that their assets are held in reserves at a 1:1 ratio has exceeded one million.

OKX's latest Proof of Reserve (PoR) report, which covers the platform’s 22 most widely used assets, including BTC, ETH, USDT, and USDC, showed that OKX holds reserves in excess of 100% for all these assets. OKX thus demonstrated that it has maintained a reserve ratio of 100% or higher for each of these assets for 13 consecutive months.

OKX's current reserve rates are as follows:

• BTC: 103%
• ETH: 103%
• USDT: 102%
• USDC: 104%

Lennix Lai, OKX's Commercial Activities Manager, said the following in his statement: “At OKX, we continue to set the standards for transparency and trust in the crypto industry with our Proof of Reserve program. By continuously publishing monthly reports evaluating user feedback, and incorporating best practices, we demonstrate our commitment to providing the most secure and reliable crypto platform. At OKX, we are proud to lead the process of restructuring the crypto space and building a trust-free system for the future.”

OKX added USDC to the “main assets” scope of its Proof of Reserve (PoR) report for the first time this month, highlighting the growing importance of Circle Internet Financial (Circle) stablecoin on the exchange. OKX and Circle made a joint statement on September 7, announcing that advanced USDC features are available on OKX Web3 Wallet and OKX DEX. These features enable the integration of OKX DEX with Circle's Cross-Chain Transfer Protocol (CCTP) and enable users to make USDC transactions in the OKX Web3 Wallet without paying any network fees or gas fees.

Over the past year, OKX has continually improved its PoR program based on user feedback and industry best practices. For example, in April 2023, OKX included the Zero Knowledge Scalable Transparent Information Argument (zk-STARK) technology in the PoR process. Introducing this technology allowed users to self-verify the exchange’s solvency and ensure that their assets are held in reserve by OKX while protecting their privacy.

OKX was also recently awarded the highest quality score among major exchanges from renowned blockchain expert Nic Carter, further solidifying its leading position in the crypto industry. Further strengthening OKX's reputation, this rating reflects its commitment to developing its Proof of Reserve (PoR) program and ensuring transparency and user trust in the exchange.

OKX, which celebrated the one-year anniversary of its PoR program last month, also released a video highlighting the importance of Proof of Reserve as an industry standard. In this video, OKX's senior executives as well as important names such as Nic Carter from Castle Island Ventures, Scott Melker from The Wolf of All Streets, Sandeep Nailwal from Polygon, Jason Yanowitz from Blockworks and Zak Brown from McLaren F1 Team. also showed up.
Here, users can verify the solvency of the exchange by viewing OKX's latest Proof of Reserve Report and reserve ratios.

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About OKX

OKX is a leading global crypto exchange and an innovative Web3 technology company. With over 50 million users trading securely globally, OKX is recognised by traders around the world as one of the fastest and most reliable crypto applications.

OKX, which has high-level partnerships, such as English Premier League champion Manchester City FC, McLaren Formula 1, Olympic medalist Scotty James and F1 driver Daniel Ricciardo, aims to maximise the fan experience with new fan-focused cooperation opportunities. OKX, which is also involved in an initiative that aims to attract more content creators to the Web3 ecosystem, is also the leading partner of the Tribeca Festival.

On the Web3 Wallet platform, it offers products and solutions that enable its users to buy and sell with GameFi and DeFi tokens while exploring the world of NFT and metaverse.

OKX also maintains its commitment to transparency and security by regularly publishing monthly Proof of Reserve reports.

To learn more about OKX, download our app or visit okx.com.

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