What is USDK (USDK)?

USDK is a stablecoin powered by the blockchain and a US licensed trust company. It is a secure, trusted, and transparent 1:1 exchange with a 100 percent reserve that guarantees an equal exchange rate between USDK and USD. USDK is the stablecoin of the popular Asian cryptocurrency exchange platform, OKEx. OKEx was founded in 2014 in China by Star Xu, and it is a leading cryptocurrency exchange, with more than $1 billion in daily trade volume. 

Apart from normal token trading, OKEx offers a host of derivative products like futures trading. With China’s firm stance against cryptocurrency exchanges, OKEx has relocated to a nation with far fewer regulations, Malta, and has officially registered the brand with the Seychelles government.

OKX is now a Seychelles-based cryptocurrency exchange that provides a platform for trading various instruments such as spot and derivatives, and some of the exchange’s core features include spot and derivative trading. The company’s Chief Executive Officer (CEO) is Jay Hao, and its Chief Management Officer (CMO) is Haider Rafique.

USDK is an ERC-20 stablecoin co-launched by OKEx’s strategic partner OKLink, a blockchain technology company, and Prime Trust, a US-licensed trust company. OKLink is the technology service provider behind the USDK smart contract, while Prime Trust is providing anti-money laundering and KYC (know your customer) services. 

This stablecoin price has always been minimal as it hit an all-time high of $1.11 on Jan 30, 2021, and an all-time low of $0.875888 on May 19, 2021, making it the perfect stablecoin to invest in and mitigate loss. The USDK stablecoin is listed on OKEx’s fiat-to-token trading platform against six fiat currencies (CNY, VND, GBP, RUB, EUR, and TRY), as well as its spot trading platform with 11 trading pairs.

To celebrate the listing, OKEx launched a 2-day campaign together with OKLink, offering a 1% conversion premium exclusively to OKEx’s users. During the promotion period, users can convert USDT to USDK at a special rate of 1 to 1.01. This promotion will help support the new stablecoin, gearing it one step forward to foster a new blockchain-driven economy and encourage financial inclusion through achieving disintermediation.

 

Who is the founder of USDK (USDK)?

Star Xu, the founder of OKEx, is also the founder of the stablecoin, USDK. He created OKCoin in 2013, aimed at the Chinese market, and in 2014, he created OKEx, which is for more advanced traders. He comes from the world of programming, with experience at top companies like Yahoo and Alibaba before founding OKEx. 

Andy Cheung is also an important personality in the creation of the stablecoin, USDK. He serves as the Head of Operations of OKEx and ensures USDK provides users with a secure and reliable trading experience, guaranteed by high transparency and regular audit. He is also in charge of integrating USDK into more decentralized applications within OKEx’s ecosystem.

 

What is USDK (USDK) used for?

A bridge between volatile cryptocurrency and fiat currency

USDK serves as a bridge between volatile cryptocurrencies like ETH and BTC and stable real-world assets like the dollar bill. 

Feeless transactions

By trading with USDK instead of U.S. dollars, users can process and maintain all their transactions within crypto exchanges, which can help them avoid all the fees they would likely be mandated to pay on other exchange platforms.

Staking and lending

Crypto traders sometimes use USDK for more advanced investments like farming, staking, and lending.

international transactions

Another use for USD is for international remittances and sending funds across international borders easily.

 

How is USDK (USDK) unique?

USDK has a very strong user base that helps create higher liquidity in the stablecoin market. The most unique feature is the stablecoin affiliation with a trusted financial organization. USDK has developed a partnership with Prime Trust to help boost the coin’s legitimacy. The US-based Prime Trust organization is one of the trust companies in charge of the escrow accounts that hold the collateral for TrueUSD, another stablecoin. It also enables fiat trading on Singapore-based crypto exchange Huobi.

Another factor boosting the coin’s appeal is that OKEx itself is currently the world’s second-largest crypto exchange by adjusted daily trade volumes. 

On top of this, it is guaranteed that the platform assures users of a 1:1 exchange rate between USDK and USD.

 

How many USDK (USDK) coins are in circulation?

There are 42,478,711 USDK coins in circulation.

 

How is the USDK Network secured?

According to the official documents provided by USDK, every USDK is backed by 1 USD from the Prime Trust Special Account held in the special fund’s custody.

The platform is subjected to regular account auditing by trusted third-party organizations like Certik and SlowMist Contract. Certik provides monthly audit reports for maximum transparency. This regular audit helps guarantee the security of the platform as well as the users’ funds.

The entire USDK platform is powered by blockchain, hence fully decentralized with no control or regulation from third-party bodies. Being hosted on Ethereum, the platform is publicly visible and trustable.

secure and reliable.

 

How do I buy USDK (USDK)?

The USDK stablecoin is among the many cryptocurrency tokens whose value is pegged to the United States dollar. The USDK token serves as the non-fiat form of the physical dollar bill that will help facilitate financial transactions across borders.

The USDK token can be used for a wide range of uses, like staking and mitigating loss.

USDK tokens can be easily purchased with the following steps. 

* Open an account with the crypto trading platform.

* Transfer the specific amount of your fiat currency to your account.

* Wait for your deposit to be confirmed and buy USDK through your trading account.

 

Which Cryptocurrency Wallet Supports USDK (USDK)?

The PTPWallet platform supports many cryptocurrencies simultaneously, such as Shiborg Inu (USDK). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their USDK wallet because it offers a simple interactive interface, making it easy for people to navigate its system.

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