OKCoin targeting institutional investors with the launch of Premier service

06 Apr, 2019 | Updated: 06 Apr, 2019
by Richard Allen
OKCoin targeting institutional investors with the launch of Premier service

San Francisco-based OKCoin recently announced its Premier program which is aimed at institutional and high-volume clients. 

According to the release, OKCoin Premier is available to users who have traded at least $100,000 over the last 30 days and includes a list of unique benefits: a dedicated account manager, guaranteed fast wire deposits (within 90 minutes when banks are open), and lower trading fees.

As CCN reports, OKCoin users who trade more than $100,000 over 30 says are automatically upgraded to Premier status. Additionally, the exchange is looking to snag users from other exchanges by allowing those with high-volume to prove it and receive Premier status. It’s a solid tactic as users may save hundreds of dollars in trading fees.

OKCoin is looking at gaining some market share from its competitors like Coinbase Pro and Binance. HJowever, OKCoin is already the leader in terms of “regulated” exchanges, and their high trading volume means they’re attractive to traders.

OKCoin was recently at the center of a number of scandals, one of which involved a futures contract that the exchange couldn’t satisfy. This resulted in the entire user base being forced to pay part of the $420 million futures settlement.

Read more: Massive Bitcoin futures position finally liquidated

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