OKX will offer the ZEUS token of the Zeus Network for spot trading, facilitating exchanges between ZEUS and USDT.
Combining Bitcoin’s security with Solana’s scalability, the integration hopes to expand the potential for safe financial services and decentralized applications (dApps).
In a seed fundraising round headed by Mechanism Capital, the Zeus Network, which uses the Solana blockchain to increase interoperability, successfully raised $8 million.
Notable angel investors, such as Anatoly Yakovenko of Solana, and important players like OKX Ventures and Animoca Ventures participated in the round.
With this funding, Zeus Network hopes to improve blockchain interoperability by creating a cross-chain infrastructure that links Solana (SOL) with blockchains such as Bitcoin (BTC) and Litecoin (LTC).
The network is now in testnet mode and is getting ready to deploy mainnet in the upcoming months. In addition, Zeus intends to airdrop its ZEUS token, indicating a significant commitment to ecosystem and community development.
There will be a one billion token supply, of which 167.5 million will be in circulation initially. OKX is currently adjusting its operations in response to heightened regulatory scrutiny, namely regarding anti-money laundering protocols.
This entails the withdrawal of USDT from European markets, freezing USDT assets, and firing Patrick Donegan, the company’s global chief compliance officer.
The action aligns with the industry’s general effort for compliance amid the US government’s crackdown on offshore exchanges due to concerns about money laundering, as evidenced by the recent charges brought against Binance and KuCoin.
