Cryptocurrency exchange OKEx has rebranded as OKX at the same time it became the 2nd largest crypto exchange by spot trading volume (excluding two exchanges whose volume is deemed unreliable.) Moreover, the platform is adding financial services to its toolbox. In a statement released to Benzinga, the platform believes that a name suggesting it’s only an exchange limits its scope and will not allow the company to grow in the ways it prefers. Currently, OKX manages passive income services, an NFT marketplace, a Dapp discovery tool, and a defi ecosystem known as MetaX. CEO Jay Hao said, “OKX is moving beyond the standard centralized exchange model to give our customers an end-to-end cryptocurrency experience.” In just the last 24 hours, the exchange facilitated over $5 billion in transactions and another $14 billion in derivatives volumes, according to CoinMarketCap. On another interesting note, this rebrand follows the pattern of many other financial firms that seem to be inexplicably removing vowels from their names.
