KEY TAKEAWAYS
- OKX’s Proof of Reserves program now backs customer funds with USD 35.4 billion in primary assets, marking a 75% increase from last year.
- The 36th PoR report confirms over 100% reserves across 22 assets, including Bitcoin, Ethereum, and Tether.
- OKX enhances transparency with zk-STARKs and public GitHub verification, boosting customer engagement and trust.
- Partnerships with traditional finance, like Standard Chartered, align OKX with global security and compliance standards.
Today marks the three-year anniversary of OKX’s Proof of Reserves (PoR) program, which now shows USD 35.4 billion in primary assets backing customer funds. This represents a 75% increase compared to the previous year.
The 36th consecutive PoR report, independently audited and verified by blockchain security firm Hacken, confirms that OKX maintains over 100% reserves across 22 commonly traded assets. This includes Bitcoin (BTC) at 105%, Ethereum (ETH) at 102%, Tether (USDT) at 106%, and USD Coin (USDC) at 100%.
Advancements in Transparency and Security
OKX’s monthly reports continue to demonstrate that accountability in cryptocurrency can be proven, measured, and verified. Since the launch of the PoR program, OKX has made accountability a measurable standard by publishing independently verifiable snapshots. Hacken reviews the ownership and asset coverage, ensuring transparency.
Customer engagement has increased significantly, with visits to the ‘View My Audit’ feature up by 123% year over year, and zero-knowledge (ZK) verification usage rising by 386%. OKX has also introduced zk-STARKs for private public on-chain checks, reduced proof files from 2.55 GB to 598 KB, and opened its GitHub for public verification of outputs.
Building Bridges with Traditional Finance
OKX’s commitment to transparency is also shaping its partnerships with traditional finance. Earlier this month, the company expanded its collaboration with Standard Chartered into the European Economic Area. This allows institutional clients to trade on OKX’s platform while keeping their assets securely custodied with a Global Systemically Important Bank (G-SIB).
This partnership aligns digital-asset infrastructure with the security and compliance standards of traditional finance, reflecting growing regulatory trust in OKX’s model and a shared commitment to building safer, more transparent markets worldwide.
Commitment to Security
In addition to PoR improvements, OKX has achieved two globally recognized certifications: ISO/IEC 27001:2022 for information-security management and CSA STAR Level 1 for cloud-security assurance. These certifications facilitate institutional due diligence, offering independent verification from trusted organizations like BSI Group and the Cloud Security Alliance.
OKX’s security framework includes advanced encryption and access controls, monthly PoR audits verified by Hacken, SOC Type 2 compliance, a multi-billion-dollar insurance fund, and SkyNet, an AI-powered blockchain monitoring tool that detects malicious actors early. The company continues to invest in proactive threat detection and risk-management infrastructure.
For more details on OKX’s Proof of Reserves and to verify assets, visit here.
Why This Matters: Impact, Industry Trends & Expert Insights
OKX celebrates the three-year milestone of its Proof of Reserves program, showcasing a significant increase in asset backing and enhanced transparency measures. This development underscores the exchange’s commitment to security and transparency in the cryptocurrency sector.
Recent industry reports indicate a growing trend towards transparency and strong overcollateralization of customer assets in the cryptocurrency market. This aligns with OKX’s announcement of maintaining over 100% reserves across key assets, demonstrating the industry’s shift towards enhanced user trust and regulatory compliance.
As per insights from industry experts, OKX’s partnerships with traditional finance institutions mark a significant step towards mainstreaming cryptocurrencies and integrating them into traditional financial systems. This supports the impact of OKX’s expansion into the European Economic Area and its collaboration with Standard Chartered, enhancing regulatory compliance and institutional adoption.
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