OrangeX Announces Its Verified Proof of Reserve, Guarantees 100% of Users' Assets

VICTORIA, Seychelles, Oct. 1, 2024 /CNW/ -- As a stable global crypto exchange, OrangeX launched its Proof of Reserve system and assured that all customer assets held on the platform are fully backed (at least 1:1), safely stored and available for redemption.

In addition, OrangeX made its proof-of-reserves public in CoinMarketCap, the most referenced and trusted source for cryptocurrency projects and exchanges.

The exchange claims that by making its POR public, it hopes to reassure consumers that their assets are secure and have enough liquidity to meet their withdrawal requests. OrangeX provides a visual verification page and makes it easy for all users to ensure that their funds are safely held 1:1 in reserve by following 3 steps.

1. OrangeX takes snapshots of all assets every 2 weeks and makes them available publicly. Currently, OrangeX has over $35 million in total digital assets with collateralization ratios of 127.6% for BTC,126.28% for ETH, 134.72% for USDT and 127.86% for USDC. The assets reserve ratio has surpassed its 100% liabilities. Thus, OrangeX guarantees its users 100% access to funds even when there is a withdrawal rush.
2. OrangeX displays the total assets of all on-chain wallet addresses and wallets held by the exchange. Users can verify OrangeX's ownership of the addresses anytime.
3. The crypto ranking firm CoinMarketCap has collaborated with the Proof of Reserves to be published. Verified by CMC, everyone can see OrangeX marked as "reserves" and check exchange's detailed financial dashboard on their ranking page.

By adopting Proof of Reserve, OrangeX boosts transparency and safety to mitigate crypto industry risks and build user trust among crypto communities. Looking ahead, OrangeX pledges to uphold 100% reserves while exploring more transparency initiatives to strengthen user trust and protect platform integrity. Users in OrangeX will always enjoy a secure and reliable trading environment with funds fully guaranteed.

About OrangeX

CoinMarketCap and CoinGecko-listed exchange, OrangeX, founded in 2021 in Seychelles, stands as a worldwide cryptocurrency trading platform renowned for its cutting-edge technology, proficient team, and seasoned financial knowledge. Our paramount strengths encompass strict regulatory adherence, robust fund and system security, unwavering transparency, and dependable products, all of which collectively culminate in the delivery of top-tier professional services to our esteemed users.

For more information, please visit: Website | Twitter | Telegram | CoinMarketCap | CoinGecko

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SOURCE OrangeX