On May 29th, OKX released the 31st Proof of Reserves (PoR), demonstrating its commitment to asset security and transparency to users and the market. The report shows that the reserve ratios of the 22 currencies disclosed on the platform have all reached 100%. Among them, the reserve ratios of the four core assets, namely Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and US dollar stablecoin (USDC), are 105%, 102%, 100%, and 100% respectively. The total value of the four assets amounts to 28.049 billion US dollars.
As the first crypto exchange in the industry to continuously release reserve proof for over two years, OKX has been making continuous investments in transparency building. Since the first release of PoR in 2023, when only three currencies were disclosed, it has now covered 22 currencies, and its scope of disclosure has been continuously expanding. At the technical level, OKX gradually upgrades the PoR system through encryption technologies such as Merkle Tree, Full View Merkle Tree, and zk-STARK to ensure that user assets are verifiable and immutable, setting a benchmark for asset transparency in the industry.
Specifically, the Bitcoin reserve ratio reaching 105% indicates that the value of the BTC assets held by OKX exceeds 5% of the user’s liabilities (i.e., the total amount of BTC recharged by users to the platform), demonstrating an excess guarantee for user assets. The reserve ratio of Ethereum is 102%, which also achieves excess coverage of user liabilities. As mainstream stablecoins, both USDT and USDC strictly maintain a reserve ratio of 100%, ensuring that users can exchange them for US dollars at any time in a 1:1 ratio.
The CEO of OKX stated: “The release of reserve proof for two consecutive years is not only a commitment to the security of users’ assets, but also an important practice to promote compliance and transparency in the industry.” Through technological upgrades, we enable each user asset to be independently verified through the blockchain browser, truly achieving “what you see is what you believe”.
From the perspective of industry impact, OKX’s PoR system provides a referenceable path for the transparency construction of crypto exchanges. Over the past two years, OKX’s PoR public disclosure mechanism has prompted more platforms to follow up and disclose their asset reserve situations, promoting the entire industry to develop in the direction of “independent custody of user assets and real-time verifiability”. Especially the application of zk-STARK technology has improved the verification efficiency to the minute level while ensuring data privacy, providing technical feasibility for large-scale asset public disclosure.
In the future, OKX plans to further expand the range of publicly displayed currencies and explore the integration of the PoR system with DeFi protocols to achieve full-process transparent management of user assets on the chain. With the tightening of crypto regulation, asset transparency has become one of the core competencies of exchanges. The continuous innovation of OKX may redefine the industry’s trust standards.
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