Crypto exchange OKEx rolls out instant messaging service on OTC trading platform

Crypto exchange OKEx has rolled out an instant messaging service on its over-the-counter (OTC) trading platform which will facilitate better communications between buyers and sellers and further streamline the whole trading process.

OKEx’s OTC trading platform allows users to post orders to buy or sell Virtual Financial Assets (VFAs), such as Bitcoin and Ethereum, with fiat currency. It enables users to buy or sell VFAs anywhere, anytime without the need to meet the counter-party in person to avoid any related risks.

Using the instant messaging service, users will now be able to send and receive messages in real-time with the counter-party at OKEx.com as well as its mobile app, available on both iOS and Android operating systems.

Furthermore, by enabling push notifications on their mobile devices, traders will be immediately alerted about any messages or updates.

OKEx’s OTC trading platform is now facilitating the trades using the fiat currencies Vietnamese Dong (VND) and China Renminbi (CNY). The exchange said it plans to add support for more currencies in the next few months.

OKEx also announced that it is introducing Designated Merchant program to guarantee high liquidity on the platform.

“Users meeting certain requirements such as KYC level 3, over 90% transaction completion rate can apply to be a designated merchant, facilitating liquidity of the platform and also enjoying privileges like dedicated customer support at the same time,” it said.

The announcement comes on the heels of the recent launch of perpetual swap trading on OKEx. The exchange explained that perpetual swap is a new VFA derivative which enables traders to speculate the future value of OKEx’s BTC/USD index.