The companies, products and regulatory developments shaping the broker industry.
OKX’s new US card is secured by eligible stablecoin balances and issued by WebBank; the promotional cashback terms require specific USDG repayment and are subject to geography and tier limits.
OKX reports four years of monthly proof-of-reserves disclosures, but its reserves ratios and asset-coverage totals should not be mistaken for an audit of every liability or a guarantee against losses.
The September expansion uses BitGo Singapore for custody while exchange execution and settlement remain distinct; October onboarding evidence adds an asset-manager use case.
The standalone app extends the exchange’s distribution into everyday dollar balances. Conditional USDG rewards, transfer pricing and a Mastercard spending route give the product several uses, while issuer backing and platform rewards perform different economic roles.
Four existing infrastructure partners have invested in OKX at a US$25 billion pre-money valuation, extending the round involving ICE. The financing amount and individual stakes remain undisclosed.
An updated OKXICE notice names nine companies that object to inclusion on its proposed venue. The change shows how issuer objections can constrain the stock selection available under the SEC’s conditional framework.