South Africa based crypto exchange ChainEX partnered with OKEx. The development happens a few days after ChainEX introduced new features for its platform. ChainEx makes it easier for everyday South Africans to buy, sell, and trade different cryptocurrencies.
OKEx is one of the world’s leading cryptocurrency exchanges and is based in Malta. They host over 20 million users across 100 countries, averaging $1.5b in trading volumes per day. The new partnership is part of ChainEX’s strategy to work with strategic partners as they seek to establish themselves as an international player.
Traders can now reap more liquidity and volume as they engage with one of the world’s leading crypto exchanges.
“This collaboration will give many South Africans and Africans access to a Top Tier, Global Cryptocurrency Exchange, as well as bring new liquidity and volume to ChainEX,” Ryan Mathee, CTO of ChainEX.
Ivan Chen, the Business Manager of OKEx Africa emphasized their embrace of “partnership” as an avenue for providing local services to users in the form of a “win-win co-operation.”
According to a publication by Forbes, crypto exchanges are poised for massive growth by 2030, even competing with banking institutions and other financial services.
Crypto exchanges play a key role in the induction of users into the crypto market. They are the starting point for most users to engage with different crypto assets. As high-speed internet penetration spreads across the African continent, there is a new drive to invest away from fiat currencies that are subject to inflation.