OKX Wallet Becomes The First Wallet To Launch Marketplace For BRC-20 Trading
- OKX will provide a marketplace inside its wallet that will facilitate the minting and trading of Bitcoin Ordinals.
- By late May, users can mint Ordinals and BRC-20 tokens within the wallet.
- The exchange has also announced expanded Bitcoin support in addition to the new Ordinals Marketplace.
OKX is introducing new functionality that will enable consumers to manufacture and trade Bitcoin Ordinals and BRC-20 tokens using the platform’s wallet.
By June, the exchange will provide a marketplace inside its wallet that will facilitate minting and exchanging Bitcoin Ordinals across over 60 supported networks.
Users may now only see and transfer their Ordinals on OKX’s wallet, but they will be able to trade BRC-20 tokens starting this week. Customers will be able to mint Ordinals and BRC-20 tokens inside the wallet by late May.
OKX’s Chief Innovation Officer, Jason Lau, stated:
“OKX has always believed in the power of Bitcoin and we’re proud to be constantly at the forefront of bringing Bitcoin technologies to a wider market. Whether it’s Ordinals, BRC-20, or Lightning, we see the potential of these technologies as they expand the design space and deliver new use cases. OKX Wallet is the best way to explore the world of Bitcoin Ordinals and BRC-20 tokens, and we can’t wait to launch even more features for the community.”
The OKX Wallet is the first multi-chain Web3 wallet that incorporates multi-party computation (MPC) technology, which increases security by removing a single point of failure and making it simpler for a user to regain access to assets in an emergency. It is a genuinely decentralized, self-custody wallet where all transactions and tokens are on-chain, according to the Bitcoin idea of “not your keys, not your money.”
OKX has announced expanded Bitcoin support in addition to the new Ordinals Marketplace.
This features Lightning Network compatibility, which allows for cheaper and quicker Bitcoin transactions. Staking is also supported for Bitcoin Layer-2 token Stacks (STX) and BRC-20 tokens, as well as OKX BTC Explorer for BRC-20. Users may now verify BRC-20 transactions in real-time thanks to the latter capability.
But, there are barriers to acceptance since Ordinals and BRC-20 tokens represent a novel method to trade, according to Lau. OKX is attempting to improve accessibility and usability.
Due to an increase in blockchain activity, Bitcoin transaction costs have recently skyrocketed. According to Dune Analytics statistics, more than $35.8 million in fees have been levied.
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