South Africa's Crypto startup, ChainEx collaborates with world-leading exchange, OKEx.

South Africa's Crypto startup, ChainEx collaborates with world-leading exchange, OKEx.

South African cryptocurrency exchange platform, ChainEx has announced a collaboration with one of the world’s biggest exchanges, OKEx.

The new deal will give crypto traders more liquidity and access to a wide variety of digital assets on a global exchange.

ChainEX is the only digital asset exchange that provides a platform for South Africans to buy, sell, or trade over 20 different digital assets using the South African Rand as the default fiat-buying currency for some.

On the other hand, OKEx which was founded in 2017 is a Malta-based secure crypto exchange that provides advanced financial services to traders through the use of blockchain technology. The global platform boast of securing about $1.5-billion daily trading volume with hundreds of trading pairs to help traders optimize their strategy.

Speaking on the new partnership, Chief Technology Officer of ChainEX, Ryno Mathee said, “This collaboration will give many South Africans and Africans access to a Top Tier, Global Cryptocurrency Exchange, as well as bring new liquidity and volume to ChainEX.”

The aim of the partnership is to mitigate barriers to transactions and increase the efficiency of transactions.

Also, Business Manager of OKEx Africa, Ivan Chen said, “OKEx respects partnership as the key steps to develop and provide local services to users. In the meanwhile, building win-win cooperation with ChainEX will lead us to a better future.”

This new partnership comes after the announcement that ChainEx introduced a quick buy and sell feature recently.

The new features include;  a zero-percent maker fee, a knowledge base, dedicated ticket-based support, BTCV markets, and referral programs. In addition, any trader can begin with ZAR and then diversify with thousands of cryptocurrencies.

The rise of Cryptocurrency on the continent is overdue and a welcome development.

ChainEx was founded in 2017 by Ryno Mathee, Otto Lessing who is also the CEO  and Martin de Bruin.