OKX to allow spot trading for Zeus Network token

OKX is set to list the Zeus Network’s ZEUS token for spot trading today, enabling ZEUS/USDT trades.

The integration aims to leverage Solana’s scalability with Bitcoin’s security, enhancing possibilities for decentralized applications (dApps) and secure financial services.

The Zeus Network, which leverages the Solana blockchain for improved interoperability, has successfully raised $8 million in a seed funding round led by Mechanism Capital. The round saw participation from significant players like OKX Ventures and Animoca Ventures, and notable angel investors, including Solana’s Anatoly Yakovenko.

The funding, aimed at developing a cross-chain infrastructure connecting Solana (SOL) with blockchains like Bitcoin (BTC) and Litecoin (LTC), highlights Zeus Network’s potential to enhance blockchain interoperability.

You might also like: Ripple to launch USD-pegged stablecoin

$ZEUS spot trading is now LIVE on @OKX exchange,

Welcome to the new era, Olympians

Link: https://t.co/hqvk6HiSgt pic.twitter.com/nRrWIhfX8Q

— Zeus Network { 4 . 4 } ⛈️ (@ZeusNetworkHQ) April 4, 2024

Currently in the testnet phase, the network is gearing up for a mainnet launch in the coming months. Furthermore, Zeus plans to airdrop its ZEUS token, with a total supply of one billion and an initial circulation of 167.5 million, signaling strong community and ecosystem development intentions.

During this time, OKX is adjusting its operations due to increased regulatory scrutiny, particularly regarding anti-money laundering practices. This includes the removal of USDT from European markets, a freeze on USDT assets, and the departure of its global chief compliance officer, Patrick Donegan.

The move reflects the broader industry’s push for compliance amidst the U.S.’s crackdown on offshore exchanges for money laundering concerns, highlighted by recent charges against KuCoin and Binance.

Read more: Google sues crypto scammers for tricking users via fake apps

Source