Popular cryptocurrency exchange OKLink is gearing up to launch a stablecoin. The stablecoin USDK will be introduced in collaboration with Prime Trust, the US-based custodian. OKLink announced the partnership by uploading copies of the inked deal between OKLink and Prime Trust on its official Twitter handle. OKLink is the subsidiary firm of popular crypto exchange OKEx.

By the end of May, the founder of OKCoin and OKEx disclosed OK Group’s collaboration with the trust company. They also revealed their intention to introduce a stablecoin. On the basis of adjusted daily trading volume, OKEx is presently the second largest cryptocurrency exchange, with $1.80 billion worth trades in the past 24 hours. OKEx is building its own decentralizing exchange (DEX) and blockchain, namely OKChain. The chain is in the final stage of development and the firm expects the testnet to go live this month.

Notably, the decentralized exchange launched by popular cryptocurrency exchange Binance will block residents of 29 countries from using it. Additionally, the DEX makes aware of the restriction to users in that region by flashing a message.