OKX Lists ZEUS Token for Spot Trading on Solana Blockchain

OKX is set to list the Zeus Network’s ZEUS token for spot trading, allowing users to trade ZEUS/USDT pairs. This move is part of the integration between OKX and the Zeus Network, which aims to combine Solana’s scalability with Bitcoin’s security features, opening up new possibilities for decentralized applications (dApps) and secure financial services.

The Zeus Network, built on the Solana blockchain for enhanced interoperability, recently secured $8 million in seed funding. The funding round was led by Mechanism Capital and included contributions from OKX Ventures, Animoca Ventures, and notable angel investors like Solana’s Anatoly Yakovenko. This funding will be used to develop a cross-chain infrastructure that connects Solana (SOL) with other blockchains such as Bitcoin (BTC) and Litecoin (LTC), highlighting Zeus Network’s potential to improve blockchain interoperability.

Currently in the testnet phase, the Zeus Network is preparing for a mainnet launch in the near future. The network also plans to airdrop its ZEUS token, which has a total supply of one billion with an initial circulation of 167.5 million tokens. This move demonstrates the network’s commitment to community and ecosystem development.

In light of increased regulatory scrutiny, OKX is making adjustments to its operations, particularly in relation to anti-money laundering practices. This includes the removal of USDT from European markets, freezing USDT assets, and the departure of its global chief compliance officer, Patrick Donegan. This shift aligns with the industry-wide focus on compliance, following recent legal actions against offshore exchanges like KuCoin and Binance.

Stay updated with the latest developments in the cryptocurrency world by visiting Global Crypto News.

Post Views: 5