- OKX, a leading crypto exchange, holds over $11.3 billion in crypto assets, including XRP, according to its ninth consecutive monthly proof of reserves report.
- The report covers 22 commonly used digital assets, demonstrating OKX’s consistent reserve ratio exceeding 100% for nine consecutive months across all these assets.
- Most of the XRP reserves are stored in off-chain cold storage, with the total XRP held by the exchange exceeding the amount deposited by users, providing a safety net in case of unexpected crises.
OKX, a premier cryptocurrency exchange, recently unveiled its ninth consecutive monthly proof of reserves (PoR) report. The report, released on Wednesday, reveals that OKX holds more than $11.3 billion in cryptocurrency assets, including a significant amount of XRP.
Source: OKX
The PoR report from OKX encompasses 22 widely used digital assets. This report is a testament to OKX’s commitment to maintaining a reserve ratio that exceeds 100% for nine consecutive months across all these assets. The assets covered in OKX’s PoR include major cryptocurrencies like BTC, ETH, USDT, USDC, XRP, DOGE, SOL, and more.
A closer look at OKX’s XRP PoR reveals that the majority of XRP reserves are securely stored in off-chain cold storage. The user asset holdings amount to 192,455,205 XRP, while the total XRP held by the exchange is 196,322,816. This indicates that OKX holds more XRP than the amount deposited by users, a strategy that provides an ideal safety net in the face of any unsuspected crises.
Looking ahead, the future of Ripple and XRP in the crypto space appears bright. With major exchanges like OKX holding substantial reserves and providing secure storage solutions, user confidence in XRP is likely to grow. As the crypto market continues to evolve, Ripple and XRP are well-positioned to play a significant role in shaping the future of digital finance.
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- Source: https://cryptonewsland.com/xrp-takes-center-stage-in-okxs-11-3-billion-crypto-reserves-ensuring-trader-security/
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