VICTORIA, Seychelles, Jan. 27, 2021 /PRNewswire/ -- OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is pleased to announce the expansion of its P2P trading service to support additional currencies and payment methods. From 4:00 am UTC on Jan. 27, users will be able to buy and sell 15 different cryptocurrencies with zero transaction fees using their preferred local currency — with 11 additional options, including the Russian ruble (RUB), Argentine peso (ARS) and Thai baht (THB).
The OKEx P2P platform already caters to users transacting in the Indian rupee (INR), Chinese Renminbi (CNY) and Vietnamese dong (VNR), and has proven to be a popular marketplace for traders to make fee-free fiat-to-crypto transactions with each other using a wide range of local payment methods.
P2P Trade is also directly linked to traders' OKEx accounts, constituting an important fiat onramp for the exchange and allowing traders to access the wider OKEx trading ecosystem. Thanks to the expansion of its service, P2P Trade will also support 14 new payment methods including bank transfers, Yandex Money, JazzCash, OVO and Mercadopago.
"We're always looking for ways to make user onboarding easier and purchasing cryptocurrencies as frictionless and convenient as possible. By giving our customers the ability to buy and sell crypto with their local currencies and preferred payment methods, we can make entering the crypto space easier for people around the world," commented OKEx CEO Jay Hao.
Governments' unprecedented responses to the pandemic in the shape of unchecked quantitative easing and inflation of the money supply have led to an increased interest in cryptocurrencies. From infamous macro investors such as Paul Tudor Jones and Stanley Druckenmiller to institutional investors like MicroStrategy and Manulife, there has been a shifting of attitudes when it comes to digital assets. According to recent data, Google searches for Bitcoin in Argentina have reached record highs — as the country faces an annual inflation rate of more than 40%.
"More and more people are seeing Bitcoin and other digital assets as a viable alternative to fiat. Either to shield their wealth from the devastating effects of inflation or for its proven potential for capital appreciation, we're pleased to be able to offer more ways to invest in this alternative asset class," Jay Hao added.
A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks. We provide spot and derivatives trading — including futures, perpetual swap and options — of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.