Cryptocurrency exchange OKX has released its 15th monthly Proof of Reserves (PoR) report.
According to the report, OKX's primary assets total $14.9 billion, the average primary asset reserve ratio is 104%, and Bitcoin Cash (BCH) is included in the PoR for the first time.
In addition to BCH, OKX's PoR report provides a complete overview of the reserve ratios for the following assets: BTC, ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, and UNI.
OKX emphasized that the reserve ratios for all these assets exceed 100%. This ensures that users' funds are secured in a 1:1 ratio.
The assets of the OKX collateral funds are distributed as follows: BTC - 102%, ETH - 104%, USDT - 104%, USDC - 104%.
"Our Proof of Reserves program is a symbol of transparency and trust in the industry. We remain steadfast in our commitment to publish regular monthly reports, incorporate user feedback, and implement industry best practices. We are proud to lead the transformation of the cryptocurrency space and build a future system based on trust," said Lennix Lai, Chief Commercial Officer of OKX Global.
Since launching the program, OKX has studied user feedback and made a number of updates and feature enhancements to its PoR.
For example, in April 2023, OKX introduced ZK-STARK (Zero-Knowledge Scalable Transparent Argument of Knowledge) technology to its reserve confirmation process, which allows users to independently verify an exchange's solvency while maintaining privacy.
By publishing monthly Proof of Reserves (PoR) reports, the crypto exchange demonstrates financial support for the platform and increases user confidence.
OKX began operations in 2017 and offers clients more than 100 cryptocurrencies, multiple ways to generate passive income, and a large amount of educational material.
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