OKX Lures USDT Holders with 8% Bonus on USDC Conversion

OKX is offering an 8% bonus to European traders who deposit USDT and convert it to USDC by October 8th. The promotion applies to deposits up to 50,000 USDT per customer, with a maximum bonus of 4000 USDC.

The incentive is aimed at holders of the popular stablecoin USDT, which has limited utility in Europe due to regulatory requirements. As several large venues have withdrawn or announced their exit from the region, OKX CEO Erald Ghoos notes that 'a lot of people in Europe are holding USDT on a platform that's pulling out of Europe.'

Ghoos emphasizes the importance of licensing in Europe, stating that it is a complex and costly process. He adds that doing it right requires time, money, and expertise.