OKX has launched perpetual stock contracts with 10x leverage, allowing 24/7 trading across various global markets.
OKX, the cryptocurrency exchange, has unveiled perpetual stock contracts as of March 24, allowing users to trade with leverage of up to 10x. These contracts, which are valued in USDT, can be traded around the clock.
This new offering is aimed at users across various regions including the CIS, Asia, Latin America, and Turkey, enabling them to react to earnings reports and macroeconomic events independent of traditional market hours.
Initially, over 20 stock instruments are available, including notable companies such as Nvidia, Tesla, Apple, Alphabet, Microsoft, Amazon, and Meta, alongside tech firms like Palantir, Intel, and Micron Technology. The product also covers crypto entities like MicroStrategy and Coinbase, as well as an ETF based on the S&P 500.
In a departure from other platforms, OKX allows traders to manage both cryptocurrency and stock investments from a single account using shared collateral. Assets like Bitcoin, Ethereum, and Tether can be utilized as margin, while staked assets continue to earn income.
“With the launch of stock contracts, we are expanding our infrastructure, providing access to global stock markets without the need to alter the structure of crypto portfolios,” stated OKX founder and CEO Star Xu.
The exchange also plans to broaden its stock offerings and introduce new products linked to tokenized real assets in the near future. This move comes shortly after the Intercontinental Exchange (ICE), which operates the New York Stock Exchange, made a strategic investment in OKX, valuing the exchange at $25 billion, with an investment of approximately $200 million. This deal will allow 120 million OKX users to access ICE's futures markets and tokenized stocks listed on the NYSE.
