Key Highlights
- OKX shows strong Bitcoin reserves at 106%, with Ethereum and stablecoins also well-backed, ensuring smooth customer withdrawals.
- XRP tops OKX reserves at 111%, while Solana sits at 100%, giving users confidence that deposits are fully backed.
- OKX and MEXC keep reserves above 100%, showing transparency and protecting users from liquidity issues during market swings.
OKX, one of the largest global crypto exchanges, has released its 40th Proof of Reserves (PoR) snapshot, taken on February 4. The data shows Bitcoin reserves increasing, while Ether (ETH) and Tether (USDT) holdings slightly ease.
The exchange depends on the PoR audit to prove that it has enough assets to cover all the deposits of its customers. A reserve ratio above 100% indicates that the exchange has more assets than the customers deposited.
The report shows Bitcoin at a 106% reserve ratio, meaning OKX holds a comfortable buffer above what customers have deposited. Ethereum comes in at 103%, while Tether and USD Coin sit at 109% and 101%, ensuring there’s enough to cover all user balances.
XRP leads the pack with a reserve ratio of 111%, followed by Dogecoin and OKB with 101%. Solana has a reserve ratio of exactly 100%, which means that OKX has just enough to cover the customers’ deposits.
The use of blockchain auditing via Merkle trees in the snapshot ensures that anyone can check the figures without having to access their account information. This also gives customers assurance that their deposits are fully backed even when the market turns volatile.
Expanding services amid EU licensing and DeFi integration
OKX recently acquired a Payment Institution license in Malta, which allows it to operate within the EU regulations as per the MiCA and the new PSD2 law. This means that OKX can now provide its OKX Pay and OKX Card services across Europe. OKX Pay and OKX Card were launched on January 28, and they allow users to deposit euros, convert them into stablecoins, and spend them on everyday purchases or legal DeFi services.
In November, OKX launched decentralized trading for U.S. users, letting them trade directly from their own wallets and keep control of their private keys. Users can access millions of tokens across Solana, Base, and X Layer, OKX’s Ethereum layer-2 built with Polygon technology.
The PoS trend
Likewise, the MEXC exchange has been committed to transparency regarding its reserves. In its Proof of Reserves in November, it demonstrated 119% reserve coverage for USDT, 110% for USDC, 125% for Bitcoin, and 106% for Ethereum.
According to MEXC, maintaining reserves above 100% helps avoid liquidity issues and ensures that customers can withdraw their money at any time. Thus, both exchanges are highly committed to transparency and financial safety.
OKX’s latest Proof of Reserves shows it’s building up Bitcoin while keeping enough Ethereum and stablecoins on hand for smooth withdrawals. Getting an EU license and adding DeFi features also makes the platform more trustworthy and easier to use.
Also Read: Bitdeer Assures Market Stability Following 189.8 BTC Sale
