OKX, one of
the biggest crypto exchanges by trading volume, has announced the launch of Signal
Trading, a trading bot and marketplace. The new platform, scheduled for release
in August-September 2023, offers automated crypto trading strategies for retail
traders.

OKX to Launch a Signal Trading
Platform

Signal
Trading introduces a marketplace where users can access automated trading
strategies based on technical analysis or 'signals’. These signals provide insight into when to buy or sell digital assets.

Scheduled
for a rollout in the next few months, the marketplace enables traders to pick
from an array of signal providers. Early-bird users and signal providers can
currently register on a pre-launch waitlist.

The new feature
will be integrated with TradingView, a popular charting platform. The company
stated in the press release that Signal Trading goes beyond generating
signals. Users will be able to specify actions, instruments, and other
parameters related to the particular trading signal. This hands-off approach
allows users to follow and copy signals without the need for manual execution.

„OKX
Signal Trading will further improve users’ trading experience on OKX by
providing access to a diverse range of high-quality signals from top providers,
reducing manual entry errors and unlocking a world of trading opportunities for
traders,” Lennix Lai, the Global Chief Commercial Officer at OKX,
commented.

Signal
providers will be able to provide their services to 50 million customers and
expect lower transaction costs. In turn, signal recipients will not have to pay
additional commissions for subscriptions and will benefit from shorter
execution times.

Lai further
emphasized that advanced algorithms, real-time market data, and diverse signal
providers will allow retail traders to elevate their trading game and connect
with a global community of investors.

OKX’s New Licenses and
Partnerships

Over the
past two months, OKX has announced a number of significant updates. In May, the
crypto exchanges applied for a French digital asset service provider (DASP)
license, aiming to make the country its regional hub. A few weeks later, the
company announced that it has been granted a Minimal Viable Product (MVP)
Preparatory license from the Dubai Virtual Assets Regulatory Authority (VARA).

In the meantime,
the second-largest crypto exchange by trading volume has announced its
integration with a collateral management platform Komainu Connect. This
partnership allows institutional customers to execute secure, around-the-clock
trading of segregated assets under custody.

In the most
recent move announced last week, OKX expanded its sponsorship deal with
Manchester City football club. The new three-year deal makes the crypto
exchange the Official Sleeve Partner of 'The Citizens’. According to industry sources,
the newest deal is worth approximately $70 million.

Since the
beginning of 2023, the exchange has increased its cryptocurrency reserves by
$2.5 billion to $10 billion.

This article was written by Damian Chmiel at www.financemagnates.com.