Trading pairs of UST stablecoin with flagship cryptocurrencies like bitcoin, ethereum and others is available on crypto exchange
One of the leading crypto spot and derivatives trading exchanges platform OKX, formerly known as OKEx, announced about starting trading pairs of Terra’s UST stablecoin. The trading pairs with UST stablecoin would include bitcoin (BTC), ethereum (ETH) and the native tokens of avalanche (AVAX) and solana (SOL).
Seychelles based cryptocurrency exchange, OKX stated in its announcement on Friday that the exchange firm is pleased to announce about the listing of trading pairs BTC/UST, ETH/UST, AVAX/UST, and SOL/UST on trading markets. It further stated the reason for doing so is to continue its support for Terra ecosystem development on their sport trading market platform.
As per the announcement by the crypto trading exchange firm, the trading pairs went live on 1st april, 2022 at 6:00 UTC.
OKX is one of the largest crypto spot trading and derivatives trading exchanges that provides a platform for various instruments for trading such as spot and derivatives the crypto trading exchange company is headquartered in Seychelles.
Crypto exchange firm has also made a multi year agreement with Premier League Championship earlier last month. This would be first exposure of OKX crypto trading exchange into the sports world and the deal would cover both men and women teams of Manchester City along with the esports operations. The crypto entity will be present in venues of Manchester City that are Etihad Stadium having 55,000 seats and Academy Stadium with 7,000 person capacity and collaboration with future projects both.
Terra ecosystem has two tokens, one is apparently UST stablecoin and other one is LUNA utility token. However, UST is one of the prominent digital assets as it is the biggest stablecoin in terms of market capitalization of more than $16 billion. UST follows the same principle as every other stablecoin does, to peg its value with the US dollar in 1:1. In terms of wide use of UST, a money borrowing and lending money market platform built on Terra, Anchor comes first. Currently Anchor has more than $8.7 billion worth of UST locked that accounts for more than a half.
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Source: https://www.thecoinrepublic.com/2022/04/02/crypto-exchange-okx-to-offer-trading-pairs-for-btc-eth-against-terras-ust/