Despite partnerships with prominent entities, regulatory restrictions currently bar OKX from accepting U.S. consumers.
OKX, a leading cryptocurrency exchange, has announced that it will modify how it collects funding fees. Additionally, the platform stated that the modification will be implemented for its perpetual future.
OKX Modifies the Mechanism for Collecting Funding Fees
OKX announced in a statement that for the remaining group of endless futures, it will progressively transition from cross-period to current-period finance charge collection. The leading cryptocurrency exchange added that the modification is intended to provide consumers with enhanced services.
Previously determined by the funding rate of the preceding funding period (cross-period collection), funding charge calculations will now be determined by the funding rate of the present funding period.
Perpetual futures, also known as perpetual swaps or “perpetual” futures, are a type of derivative contract that enables speculators to forecast the future price of an asset.
Generally, traders can generate forecasts without concern regarding the expiration of an asset’s price. In contrast to conventional futures contracts, perpetual futures are non-expiratory and may be retained indefinitely.
In cryptocurrency trading, perpetual futures represent a financially prevalent tool. They are utilized for cryptocurrency speculation, including that of Bitcoin and Ethereum.
Nevertheless, they may also be applied to commodities and indexes, among other assets. When juxtaposed with the immediate cryptocurrency market, perpetual futures potentially offer greater liquidity and permit a greater degree of leverage.
The alteration of OKX’s funding charge collection mechanism coincides with its efforts to increase its international clientele.
OKX, one of the world’s largest cryptocurrency exchanges, was granted a regulatory license in Dubai just recently. The license will authorize the provision of Bitcoin services to retail clients.
OKX has entered into contractual arrangements with McLaren, Manchester City, the Australian Olympic Team, and the Australian Olympic Team to expand its customer base and appeal to sports enthusiasts.
Regulatory considerations prevent OKX from accepting consumers from the United States on its platform now.
