OKX crypto exchange has published its 35th proof of reserves, verifying it holds more than enough assets to cover user balances. Specifically, the assets are worth $37.7 billion, with Bitcoin, Ethereum, and stablecoins all backed at 100% or higher.
The exchange reported 125,083 BTC in user assets, a 4,432 BTC addition from August’s numbers. In contrast, Ethereum holdings have reduced by 35,011, now standing at 1.7 million ETH. In addition, USDT balances were reduced by 248 million to 9.4 billion, representing a 2.56% monthly decrease.
The most recent numbers show that all assets are fully backed by the exchange, which keeps a 105% Bitcoin reserve ratio. This indicates that OKX has 105 BTC in its wallets for every 100 BTC that users deposit.
Bitcoin holdings surge as other assets drop
The rise in Bitcoin holdings mirrors broader market trends in September. This change brought OKX’s total Bitcoin user assets to 125,083 BTC. This is split between 119,372 BTC held directly by the exchange and 12,458 BTC in third-party custody. The exchange’s 105% reserve ratio means OKX maintains 131,830 BTC in total wallet assets, keeping an extra buffer above user deposits.
OKX has released its 35th Proof of Reserves (snapshot date: September 2). User BTC holdings stand at approximately 125K, up 3.67% from the previous report (August 18), with an increase of 4,432 BTC. ETH holdings are around 1.704 million, down 2.01%, a decrease of 35,011 ETH. USDT… pic.twitter.com/mt8GPrJ6Ny
— Wu Blockchain (@WuBlockchain) October 1, 2025
While Bitcoin holdings increased, other major assets on OKX saw small declines. Ethereum assets decreased by 2.01%, with the exchange maintaining a 103% reserve ratio. This means OKX holds 1.751 million ETH in wallet assets, divided between 1.65 million ETH on the exchange and 100,691 ETH in third-party custody.
USDT holdings showed the largest percentage drop, reducing by 2.56%. The stablecoin maintains a 105% reserve ratio, with OKX holding 9.9 billion USDT in total wallet assets. Additionally, USDC holdings declined by 1.17% to reach $ 1.14 billion. The stablecoin holds a 100% reserve ratio.
Among the cryptocurrencies that OKX accepts, Bitcoin Cash (BCH) has the most coverage at 118% of user deposits; however, this is not the case for all of OKX’s supported cryptocurrencies.
With reserve levels of 105% for Bitcoin, 103% for Ethereum, and 102% for Solana, the exchange’s risk management is clearly visible. Based on these percentages, OKX has between $102 and $118 in assets for every $100 that users deposit.
Among other altcoins, XRP maintains 108% reserve ratios, ETC maintains 107% reserve ratios, while Dogecoin sits at 101%. This consistency in over-collateralization extends to smaller market cap assets, with most maintaining ratios between 100% and 105%.
Custody distribution and security measures
With the majority of its assets held directly on the exchange, OKX also makes use of third-party custody services. Out of all the Bitcoins in circulation, more than 90% are held directly by exchanges, while 10% are held by third-party custodians. In addition, 6% of Ethereum’s total external assets are in third-party custody, which is about the same as Bitcoin.
Approximately 3.3% of USDT’s equities are held by third parties. Asset types determine the custody arrangement. Nearly all assets for OKX tokens, including APT, BCH, and LINK, are under direct exchange management.
OKX introduces OKX Pay
As reported by Cryptopolitan, OKX CEO Star Xu unveiled OKX Pay at the TOKEN2049 conference. It is a self-custodial, stablecoin-based payment service that is now live in Singapore. According to Xu, users can use QR codes to pay and earn approximately 4% APY and 3–4% cash back.
The service, based on OKX’s X Layer Ethereum L2, will reintroduce peer-to-peer payments and establish stablecoins as the world’s primary payment system. Xu said that this mode of payment is cheaper and more efficient. For example, domestic card payments are very inexpensive, but cross-border transactions can cost 1–3%.
Xu added that Stablecoins are global by design, and P2P transfer does not compromise security or compliance.“Our vision is that, within a few years, users will be able to travel freely worldwide with just stablecoins and the OKX app, enjoy yields higher than banks, and receive more cashback on every transaction,” he said. Expansion is planned for Brazil, Europe, and the US.
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