As digital assets platform OKX closed out 2024, they announced their 26th Proof of Reserves (PoR) report, marking another key milestone in their ongoing commitment to transparency and security in the crypto-assets space.
The month’s report from OKX shows the following:
- Total primary assets: USD30.8 billion
- Month-over-month growth: 15%
- Growth since December 2023: 106%
- Current reserve ratios for primary assets:
- BTC: 105%
- ETH: 102%
- USDT: 102%
- USDC: 100%
According to the update from OKX, the month’s report had coincided with significant developments in the crypto space, “including Bitcoin recently crossing the historic milestone of USD108,000.”
Against this backdrop, OKX noted that their PoR program continues to provide the “transparency” as well as security that people using their app now demand.
OKX explained in a blog post that their PoR program operates alongside their comprehensive security infrastructure, which includes their “multi-billion-dollar insurance fund, AI-powered blockchain monitoring systems, and state-of-the-art encryption protocols.”
Together, these elements create a security framework “that meets the highest standards of institutional requirements.”
OKX said they are encouraged to see that “over two million people have now utilized our PoR verification tool, embodying the industry’s ethos of ‘don’t trust, verify.'”
At OKX, they believe that the future will be reshaped by crypto, “ultimately contributing to every individual’s freedom.”
As covered, OKX began as a crypto exchange giving people access to crypto trading and over time “becoming among the largest platforms in the world.”
In recent years, they claim to have developed one of the most connected Web3 wallets used by millions to “access decentralized crypto applications (dApps).”
OKX says that is now a trusted brand by hundreds of large institutions seeking access to crypto markets on a reliable platform that “connects with global banking and payments.”
OKX has now reportedly expanded into new markets including the following areas: Australia, Brazil, Netherlands, Singapore and Turkey, with plans to launch in the US, Belgium as well as the UAE.
They claim to be deeply committed to shaping a “fairer, more transparent and accessible society through blockchain technology.”
This is why they release proof of reserves monthly, and “continue to ship new innovative security features.”
