Leading crypto exchange and Web3 technology company, OKX and leading provider of algorithmic trading strategies and execution management, CoinRoutes, are working on bringing trading services to institutional clients.
The duo announced the new development yesterday 17 August, which is an extension of their existing partnership to include a full range of API-enabled trading services to institutional clients.
As a result of the partnership, institutional clients with accounts on OKX will be able to trade on the exchange through CoinRoutes going forward.
This gives them access to features such as advanced trading algorithms, market data dashboards and a proprietary transaction cost analysis feature that measures trading performance. Order types include automated spread trading and multi-product trading in a single order.
According to OKX Global Chief Commercial Officer Lennix Lai, the partnership will bring enhanced trading experience to its users.
“Our expanded integration with CoinRoutes, one of the largest crypto order execution management systems (OEMS) in the world, gives OKX institutional users a very powerful partner through which they can optimize trading strategies,” Lai said in a statement.
“Through this agreement, we’ve strategically expanded our broker landscape and enhanced the products, services and incentives available to users to further strengthen the trading experience,” he added.
Also speaking concerning the partnership, CoinRoutes’ CEO and Co-founder Dave Weisberger said the partnership will enable them to accomplish their mission of bringing excellent crypto trading solutions to its clients.
“We are excited to announce our integration with OKX, one of the leading global cryptocurrency exchanges. This strategic alliance aligns with our mission of providing the most comprehensive and best performing digital asset trading solutions to our clients globally,” Weisberger said.
“By leveraging OKX’s extensive liquidity and superior transparency, we’ll continue to bolster our clients’ trading strategies, amplifying their potential for superior execution. As we expand our global footprint, this is an important step for us, as it further underpins our commitment to innovation and efficient, data-driven trading solutions,” he added.
OKX Enhancing Customers’ Trading Experience
OKX is the second largest crypto exchange in the world by trading volume, and this is hardly surprising considering that it has been developing ways to improve its customers’ trading experience through many recent developments.
One of its most prominent features, OKX wallet, has gone through lots of changes that make it more appealing to many users. Early this month, the wallet launched its “Smart Account” feature which allows users to pay USDT and USDC gas fees on multiple chains.
OKX has also expanded its services to several countries and jurisdictions recently. It has set up an office in Hong Kong, one of the biggest crypto hotspots in the world, and intends to apply for a virtual asset service provider (VASP) license.
Partnership to Increase Institutional Participation
The partnership with CoinRoutes is a strategic one, not just for OKX but for the entire crypto industry.
By providing services to institutional customers, the exchange will increase institutional participation in the crypto space, which is a major growth boost.
OKX is also working towards boosting institutional participation through sports partnerships.
It is a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, bringing onboard millions of fans worldwide who will participate in adopting cryptocurrencies.
