Subtle Jab: OKX Launches New Ad Campaign with a Playful Dig at Coinbase

Crypto Exchange OKX Takes a Subtle Shot at Coinbase in Global Ad Campaign

Crypto exchange OKX has launched a new global ad campaign titled “The System Needs a Rewrite” that seemingly takes a dig at its rival exchange Coinbase. The 60-second video campaign, launched on May 9, highlights the “broken ways” of the centralized financial system and argues that “the system doesn’t need an update; it needs a rewrite.”

While the video doesn’t mention Coinbase directly, its tagline appears to reference the exchange. This comes after Coinbase launched a campaign on March 9 titled “It’s time to update the system,” which argued that crypto is the answer to the outdated technology used by American financial institutions.

OKX takes Coinbase’s idea a step further, arguing that the decentralized nature of Web3 means consumers don’t even need to be involved with centralized players in the first place.

Haider Rafique, Chief Marketing Officer of OKX, said in a statement that the campaign was a nod to those who believe in rewriting the system into Web3, rather than just updating existing systems. The campaign was produced in collaboration with BBDO New York, the exchange’s advertising agency.

OKX Plans to Expand Crypto Services to Australia

Recently, the Seychelles-based crypto exchange signaled its intention to expand its crypto services to Australia. In a statement released on March 29, the exchange explained that Australia would be a key growth market for the firm moving forward. Haider Rafique told Cointelegraph that the decision to expand “Down Under” was driven by Australians’ “huge appetite” for more crypto investment and trading products.

Conclusion

OKX’s new ad campaign appears to take a subtle shot at Coinbase, arguing that the centralized financial system doesn’t need an update, but a complete rewrite. The campaign highlights the decentralized nature of Web3 and how it eliminates the need for consumers to involve centralized players. The exchange’s plans to expand its crypto services to Australia indicate its commitment to growth and meeting the demands of consumers in the crypto market.