OKX Expands European Spot Margin with 10 New USDC Pairs

OKX, a major cryptocurrency exchange, has expanded its spot margin service for European customers by adding 10 new USDC pairs. The move comes as tokens such as Near Protocol (NEAR) and Enigma (ENA) have experienced significant gains in the past 24 hours.

The newly added pairs include HYPE/USDC, ZEC/USDC, LINK/USDC, ONDO/USDC, AAVE/USDC, NEAR/USDC, TRUMP/USDC, OKB/USDC, and BNB/USDC. These pairs offer up to 10x leverage for eligible traders, allowing them to take long or short positions across the tokens.

The exchange emphasized that the borrowing charges are calculated hourly and apply only to the amount borrowed, with interest accruing until the debt is repaid. OKX also noted that its rates begin at an annual percentage rate of 0.5% for Bitcoin, but can vary by asset, customer tier, and market conditions.

The expansion builds on OKX's previous introduction of USDT conversion to USDC for eligible European customers, which was launched in July as part of the company's efforts to comply with regulatory requirements such as the Markets in Crypto-Assets framework.