OKX, a leading global Web3 technology company and crypto exchange, has published its industry-best 11th consecutive monthly Proof of Reserves (PoR), showing balances of USD$11.2 billion in primary assets, as its PoR was given the highest quality rating among major exchanges.

OKX’s latest PoR comes days after Castle Island Ventures partner and blockchain and Proof of Reserves expert Nic Carter ranked OKX highest of all major centralized exchanges on its quality of Proof of Reserves. In his ranking, he cited OKX’s credibility, knowledge of leadership, demonstrated commitment to transparency and overall PoR quality as reasons for his positive assessment.

OKX’s PoR covers 22 commonly used digital assets and shows that OKX has maintained a reserve ratio exceeding 100% for 11 consecutive months across all those assets. In addition to BTC, ETH and USDT, the assets included are: USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX and UNI.

OKX’s current reserve ratios are as follows:

• BTC: 102%
• ETH: 103%
• USDT: 102%

OKX Global Chief Commercial Officer Lennix Lai said: “With our 11th consecutive Proof of Reserves report, we are reaffirming our unwavering commitment to greater transparency and trust within the crypto industry. At OKX, we believe that integrity is the cornerstone of our success, and our PoR stands as a testament to our dedication to safeguarding user assets. As we approach a full calendar year of consecutive PoR releases, we have never been more committed to continuing to raise the bar for transparency in our sector.”

In August, OKX conducted two Twitter surveys to measure the sentiment of the online community with regards to the importance of PoR and transparency. Poll results showed that 84% of respondents say monthly PoR reports are either ‘somewhat important’ or ‘very important‘ and 88% state that transparency is either ‘somewhat important’ or ‘very important’ when choosing which crypto platform to trust.

OKX has seen hundreds of thousands of users engage with its PoR, visit its PoR page and view their self-audits since first launching its PoR page in late 2022. The open-source verification tool allows users to independently verify OKX’s solvency and confirm their assets are backed by OKX reserves while maintaining their privacy.

OKX has published over 210,000 addresses for its PoR program, and will continue to allow the public to view its asset flows.

Users can view the latest PoR report, reserve ratios, and verify OKX’s solvency here.

ACX (AirCarbon Exchange), operating its proprietary regulated environmental asset trading platform, is the technology provider for Indonesia’s carbon exchange hosted and operated by the Indonesia Stock Exchange (IDX) after a competitive Request for Proposal process.

Launched on 26^th September 2023, with its first carbon trades, Indonesia’s official carbon exchange, IDXCarbon, will play a vital role in reducing Indonesia’s carbon emissions and driving Indonesia’s transition to reach net zero emissions by 2060.

“With ACX support, IDXCarbon has reached a key milestone towards achieving net zero emission in 2060 or sooner. We anticipate a thriving and enduring collaboration with ACX that will continue to drive innovation and success, as the Indonesian carbon market develops.” said Iman Rachman, President Director of IDX. 

IDXCarbon has been customised by ACX to meet the country’s unique requirements, as well as aligned with Indonesian institutions, including the National Registry System for Climate Change Control (SRN-PPI). This will ensure the exchange is compliant with Indonesia’s standards and procedures, as well as the requirements recently established by the OJK, the country’s financial services authority. ACX provides a complete end-to-end solution that utilises blockchain technology to ensure the transparency and auditability of all trades transacted on the exchange. With that, the exchange will play a central role and promote transparency, accountability, and efficiency in the Indonesian carbon market.

“We are honoured to be the technology provider for Indonesia’s carbon exchange and to contribute towards the country’s vision of a fair and inclusive carbon ecosystem,” said Thomas McMahon, co-CEO and co-Founder of ACX. “Our end-to-end solution will enable the exchange to provide comprehensive services. This will make it easier for companies to access and participate in the carbon market, ultimately driving down Indonesia’s carbon emissions and contributing to global sustainability efforts.”

Hum Wei Mei, Head of APAC and Global Head of Environmental Products, said: “Indonesia has a critical role to play in international climate action while IDXCarbon is at the heart of ensuring that Indonesia’s carbon market progresses as envisioned. As the technology provider to IDXCarbon, ACX is committed to working closely with IDX to implement a highly customised, iconic and state-of-the-art carbon exchange which will act as critical supporting infrastructure for Indonesia’s long-term plans & interests in emissions trading, carbon markets & climate action.”

With a global footprint covering Asia, the Middle East, Europe, North and South America, ACX has demonstrated itself to be a leading technology provider with a proven track record of designing and implementing carbon trading system worldwide, leveraging the company’s expertise and experience to ensure a robust and reliable platform for trading environmental assets.

Nex News Network, the pioneering media organization, is proud to announce the launch of its groundbreaking platform, revolutionizing the way news and media are consumed. This year marks a momentous milestone as Nex News Network becomes the world’s first-ever blockchain integrated, Web3, and Metaverse news and media platform. With a fusion of cutting-edge technology and visionary media strategies, Nex News Network is set to redefine the media landscape.

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