In a new global ad campaign titled “The System Needs a Rewrite,” crypto exchange OKX appears to have aimed a veiled shot at its rival, Coinbase.
The campaign, launched on May 9 through a 60-second video, focuses on addressing the perceived flaws in the centralized financial system.
While not directly mentioning Coinbase, the video’s tagline subtly hints at the exchange. Coinbase’s earlier campaign, “It’s time to update the system,” argued that American financial institutions, while essential, still rely on outdated technology to serve their customers. Coinbase proposed cryptocurrency as the solution to this issue.
OKX takes a further step by asserting that the decentralized nature of Web3 eliminates the need for involvement with centralized players altogether. Haider Rafique, Chief Marketing Officer of OKX, stated, “There are two schools of thought. One side suggests we update existing systems to create a better world. The other believes we need a system rewrite. Our new campaign is a nod to those who believe we need to rewrite the system into Web3.”
The campaign, developed in collaboration with BBDO New York, OKX’s advertising agency, aims to convey the message that a system rewrite is necessary for a brighter future. In related news, OKX recently sent $60M in USDT and MASK token to Alameda Research, indicating its expansion of crypto services. Additionally, the Seychelles-based exchange expressed its intention to capitalize on the strong demand for crypto investment and trading products in the Australian market.