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Interview With Jay Hao, CEO, OKEx: ‘Both BTC and DeFi Will Continue to Flourish and Serve Different Purposes as They Grow’

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      Thank you for joining us today and answering some burning crypto industry questions for the Bitcoinist audience.

Please start by telling us a little bit about your role as CEO of OKEx.

As you can probably imagine, being the CEO of a leading cryptocurrency spot and derivatives exchange, there is never a dull moment. At OKEx, we pride ourselves on our constant innovation and providing our users with the most diverse suite of products possible. That means that we have to be on top of the market at all times and also listen to the demands of our users.

Besides being the CEO, I hold an another position at the company: Chief Customer Service Officer. It’s very important to me to be on the front lines with our customers to really understand their needs and pain points. I can’t say that there is anything like a typical day for me as every day is different in this space but we strive to work on continually improving OKEx, the security and strength of our exchange as well as rolling out innovative products.

OKEx was just recognized by CoinGecko and CoinDesk as the world’s largest crypto derivatives exchange based on our BTC futures volume. This is a great achievement, however, we are also working hard to provide even more interesting and flexible products for traders in the form of perpetual swaps on popular tokens like LINK and DOT against USDT and also expanding our options trading for more advanced traders with BTC, ETH, and EOS options.

I really love working in this fast-paced industry and can assure you that you will see greater things to come from OKEx in the near future.

Why cryptocurrencies? How did you get your start in this industry?

I worked in the technology field for more than 20 years and was exposed to bitcoin very early on and I found it fascinating. I watched its development as it went from being worth almost nothing and 10,000 BTC being traded for a couple of pizzas to the giddy heights of 2017 and its current value today.

For me, the amazing rise of bitcoin was foreseeable and I believe that blockchain will become an unstoppable force, it has already touched me and my life very deeply. Before joining OKEx, I was already in the blockchain industry for a long time, focused on blockchain-driven applications for live video streaming and mobile gaming.

Moving into cryptocurrencies and OKEx was a logical progression for me and I have been able to apply the management skills I learned from starting my own companies as well as the engineering and development skills I garnered mainly in the semiconductor industry. Just like with crypto products, there is zero-tolerance for failure here, as any error can cost millions of dollars. We uphold these rigorous quality standards when creating products and for protecting user funds at OKEx.

The total cryptocurrency market cap is up over 90% year-to-date in 2020 –


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