OKEx Expands Into India’s Crypto Market via Partnership With Local Exchange

Despite ongoing uncertainty regarding cryptocurrency regulation in India, major global crypto exchange OKEx has just made another push in the country’s market.

On Feb. 14, OKEx partnered with India’s largest cryptocurrency trading platform, CoinDCX, to launch a new crypto futures product in India.

As part of the partnership, OKEx will make a major step into the Indian cryptocurrency market, enabling more liquidity with its extensive expertise in developing world-class futures, CoinDCX said in an announcement shared with Cointelegraph.

Specifically, the partnership purportedly unlocks CoinDCX’s new crypto futures product, DCXfutures, that will enable users to trade futures contracts with major cryptocurrencies with up to 15x leverage. 

According to the firm, the futures contracts will be available for at least eight coins including Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), EOS, Cardano (ADA), and Tron (TRX). Additionally, users will be able to trade perpetual futures contracts with Bitcoin and Ether, the announcement reads.

According to the firm, maker fees will account for 0.2% at the DCXfutures launch, while the service will be initially open for select users on an invitation-only basis. Once available for the general public, users will be able to access DCXfutures