OKX, a leading cryptocurrency exchange, is poised to launch spot trading for the ZEUS token from the Zeus Network starting today, allowing users to trade ZEUS against USDT.
The integration of ZEUS on OKX aims to capitalize on Solana’s scalability combined with Bitcoin’s security features, opening up new avenues for decentralized applications (dApps) and secure financial services.
Zeus Network, built on the Solana blockchain to enhance interoperability, recently secured $8 million in seed funding led by Mechanism Capital. This funding round saw participation from major investors such as OKX Ventures and Animoca Ventures, along with notable angel investors like Solana’s Anatoly Yakovenko.
The funding is earmarked for the development of cross-chain infrastructure connecting Solana with other blockchains like Bitcoin and Litecoin, underscoring Zeus Network’s commitment to advancing blockchain interoperability.
Currently in the testnet phase, Zeus Network is gearing up for a mainnet launch in the near future. Additionally, Zeus plans to conduct an airdrop of its ZEUS token, which boasts a total supply of one billion, with an initial circulation of 167.5 million, demonstrating a strong focus on community and ecosystem development.
Meanwhile, OKX is making adjustments to its operations in response to heightened regulatory scrutiny, particularly concerning anti-money laundering practices. This includes measures such as removing USDT from European markets, freezing USDT assets, and the departure of its global chief compliance officer, Patrick Donegan.
These actions align with the broader industry trend of prioritizing compliance amid increased regulatory pressure, exemplified by recent regulatory actions against offshore exchanges like KuCoin and Binance for alleged money laundering activities.
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