Fun

News Feed - 2023-09-01 06:09:02

Savannah Fortis14 hours agoOKX plans to enter India, hire local employees for Web3 explorationThe CMO of OKX says the company is looking into its entrance in the Indian market through hiring local employees and “understanding the culture.”1804 Total views11 Total sharesListen to article 0:00NewsJoin us on social networksThe cryptocurrency exchange OKX plans to enter the Indian market and recruit local employees in an effort to expand the possibilities of Web3 applications, according to a CoinDesk report.


OKX chief marketing officer Haider Rafique said the company plans to scale up its wallet services “exponentially” via entrance into India’s developer community. He continued, saying there are currently 200,000 OKX Wallet users in India, which equates to barely 5% of India’s Web3 users.“We’re going to learn about the community. We’re going to work with local folks — figure out where we can add value.”


OKX is the sixth-largest cryptocurrency exchange worldwide in terms of volume, according to current data from CoinMarketCap. It also does not have a global headquarters but rather works out of regional hubs in Singapore, Dubai, Hong Kong and the Bahamas.


Rafique said the company wasn’t planning on opening an office in India but would depend on local employees to lead its efforts in the country.“We’re trying to identify who’s who in the zoo and what is their contribution. There’s a large developer community. How do we help them? Build a relationship with them.”


He commented that by taking the community approach, it could highlight the right way to enter the local market.


Recently, OKX partnered with the blockchain platform Neo for an APAC Hackathon in the southern Indian city of Bengaluru. Rafique called this move a test to validate assumptions, understand the culture, and support the local Web3 ecosystem.


Related:Basis trading, simplified, and how exchanges adapt to institutional needs — Q&A with OKX


Trading cryptocurrencies is legal in India, though there are currently no set regulations in place by a central authority, and they are traded and used at the risk of the investor. While they are not banned, they also do not have any status as legal tender, nor can they be used for banking purposes. The country currently imposes a 30% tax on crypto.


On July 27, India’s Supreme Court reprimanded the Union government for the lack of crypto regulations. It pushed the government to reveal if it has any plans for upcoming regulations of digital currencies due toa rise in criminal activities involving cryptocurrencies.


Rafique said he thinks regulators there are beginning to separate Web3 from centralized finance (CeFi). “They’re more concerned about venues that have fiat on-ramps, which we do but we don’t offer it in India,” he said.“Once India comes up with a regulatory framework for crypto, then we would like to be the front runners.”


While OKX plans to hire on-the-ground staff in India, Indian cryptocurrency exchanges CoinSwitch and CoinDCX have recently had to lay off staff at the hands of the current market slump.


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.


Magazine:How to protect your crypto in a volatile market: Bitcoin OGs and experts weigh in# Business# India# Cryptocurrency Exchange# Web3# OKXAdd reactionAdd reactionRead moreWhat is profit and loss (PnL) and how to calculate itHow AI analysis can change finance and crypto tradingAI could revolutionize human resources, but there are risks

News Feed

Former NY Fed chief joins Binance.US board
Turner Wright8 hours agoFormer NY Fed chief joins Binance.US boardFormer Binance CEO Changpeng Zhao stepped down as chair of Binance.US’ board of directors in November 2023.790 Total views1 Total sharesListen to articl
Bitcoin Holds Steady As Bullish Breakout Awaits These Conditions – Details
Este artículo también está disponible en español. According to data from CoinMarketCap, Bitcoin currently hovers near the $62,000 price mark with no significant movement
Gareth Jenkinson15 hours agoFiat on-ramps, banking partners crucial for institutional Web3 adoption — European Blockchain ConventionProminent fiat payment rail services and neobanking platforms are becoming a catalyst
David Attlee13 hours agoTurkey plans to craft crypto framework in 2024Crypto asset providers, such as crypto exchanges, will also be given a legal definition.1902 Total views20 Total sharesListen to article 0:00NewsJoin
Felix Ng7 hours agoDeloitte, Chainalysis alliance to give law enforcement a crypto edgeBig Four accounting firm Deloitte said the partnership could help authorities identify and take down bad actors hiding “behind the
Turner Wright11 hours agoTexas Blockchain Council director announces run for State HouseThe director of Bitcoin mining analytics at the TBC said he was opposed to the Fed’s exploration of a central bank digital currenc
Bill Gates Props Up AI Against Metaverse and Web3 Tech
Bill Gates Props Up AI Against Metaverse and Web3 Tech Bill Gates, the co-founder of Microsoft, has given his opinion about the relevance of Web3, metaverse, and AI (artificial int
Price analysis 8/12: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA
Rakesh Upadhyay3 hours agoPrice analysis 8/12: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADAThe S&P 500 Index is extending its recovery, boosting buying in Bitcoin and select altcoins in the near term.930 Total v
Starknet’s STRK hits $7 on Binance as millions of tokens claimed on airdrop day
Gareth Jenkinson13 hours agoStarknet’s STRK hits $7 on Binance as millions of tokens claimed on airdrop dayEligible Starknet token recipients claimed millions of tokens as the Ethereum layer-2 opened its provisions por
Peter Schiff Says Banking Crisis Not Over, Much Worse Financial Crisis Incoming — Warns of ‘Massive’ Recession
Peter Schiff Says Banking Crisis Not Over, Much Worse Financial Crisis Incoming — Warns of "Massive" Recession Economist Peter Schiff has cautioned that the present banking crisi
David Attlee3 hours agoSBF jailed, FTX partners under attack: Law DecodedSam Bankman-Fried, the former CEO of the failed FTX crypto exchange, will be held in jail through the end of his two upcoming trials.1036 Total vie
Bitcoin rallies to 2-year high, but derivatives traders not betting on further gains
Marcel Pechman4 hours agoBitcoin rallies to 2-year high, but derivatives traders not betting on further gains$60,000 within range after 12.7% gains in 24 hours? Not so fast, according to Bitcoin derivatives metrics.3886