OKX, a cryptocurrency exchange, has announced that its wallet will soon support Bitcoin (BTC) Ordinals and BRC-20 tokens trading. In a statement released on May 16, the exchange stated that it will allow support for BRC-20 token trading and BTC cross-chain swap this week, with support for Ordinal inscriptions and token casting to follow in June. OKX’s new Ordinals Marketplace will be the only multichain wallet that allows users to trade and mint Ordinals, BRC-20 tokens, and NFTs across 60+ blockchains via one solution. OKX will not be the first exchange to offer support for Ordinals, as Binance’s NFT marketplace recently announced that it would allow support for digital assets.
OKX Wallet to Integrate Bitcoin Lightning Network and Partner with UniSat for Cross-Verification Process
In addition to the Ordinals support, OKX announced that it will integrate the Bitcoin Lightning Network into its wallet, a feature that is already available on the main exchange. The exchange further revealed a partnership with open-source Bitcoin wallet UniSat to develop a cross-verification process for BRC-20 transactions indexing on the BTC network.
Jason Lau, OKX’s chief innovation officer, stated that all these integrations and support for the Bitcoin network show that the exchange sees potential in Bitcoin technologies and will strive to constantly be at the forefront of bringing them to the masses. The number of NFTs on the Bitcoin network crossed 7 million on May 15, according to data from Dune Analytics.
Recently, interest in Bitcoin Ordinals, BRC-20, and other developments on the blockchain network pushed the transaction volume on the network to new highs, and gas fees surged to a 2-year high amid the interest in BRC-20 tokens. However, the hype surrounding these assets appears to have faded as network gas fees are back to normal, and the market cap of BRC-20 tokens has dropped below $500 million, according to brc-20.io. Despite this, OKX’s continued support for the Bitcoin ecosystem and its efforts to keep up with the latest developments show that the exchange remains committed to providing its users with innovative and efficient trading solutions.