WHAT IS USDK?
USDK is an ERC-20 stablecoin co-launched by OKLink's strategic partner of OKEx, a blockchain technology corporation, and Prime Trust, a US-licensed trust company. OKLink is the technology assistance provider backing the USDK smart contract, while Prime Trust provides anti-money laundering and KYC (know your customer) services. Each USDK is backed by 1 USD from the particular Prime Trust account.
There is a secured 1: 1 conversion rate between USDK and USD, which means that its financial value is 100% reserved. An auditing company provides monthly reports in an attempt to maximize transparency to the public. With the provision of the new stablecoin, the change has taken a step progressing to promote a new blockchain-powered economy that supports financial inclusion. With this new release of a compatible Stablecoin, it is expected to offer users a safe and secure trading experience guaranteed by high transparency and regular auditing. WHAT ARE THE BENEFITS OF USDK? One of the biggest giveaways for investors is likely to be the expertise behind USDK stablecoin.
The fact that it was generated in collaboration with the Prime Trust should help increase the coin's legitimacy. The United States-based Prime Trust is one of the trust companies in charge of the trust accounts that hold the guarantee of TrueUSD, a different stablecoin. It also allows fiat trading on Singapore-based crypto exchange Huobi. In addition to this, there is a guaranteed 1:1 exchange rate between USDK and USD; the USDK smart contract has been audited by Certik and SlowMist and holds a robust user base, which helps to enhance liquidity in the market of stable coins. The monthly audit reports should be of interest to investors who demand the highest levels of transparency. INCREASED ENGAGEMENT OKEx is one of an increasing number of exchanges that have chosen to launch their stablecoins.
Tether is the market manager, accounting for 98.7% of stablecoin trading volume, according to a Bloomberg report. Around 60 stablecoins have tried to take over Tether, but haven't managed to gain much traction. Stablecoins, like USDK, offer the transparency, security, and privacy of a digital asset combined with the stability of a traditional currency.