OKX Set to Launch Pay Wallet to Drive Crypto Adoption
OKX CEO Star Xu has announced the upcoming launch of a new product called Pay Wallet, aimed at accelerating the adoption of cryptocurrencies among a wider audience.
In a recent social media post, Xu shared screenshots of the new product, scheduled to be unveiled next week. The CEO emphasized that the primary goal of the Pay Wallet is to facilitate greater crypto adoption and attract new users to the platform.
According to Xu, “We will launch OKX Pay Wallet next week. It’s a road to billion users crypto adoption! Looking forward to trying it!”
The announcement received positive feedback from prominent figures in the crypto industry, including Tron founder Justin Sun and Tether CEO Paolo Ardoino.
The Pay Wallet is designed as a keyless wallet, offering enhanced security features. Users will be required to undergo Know-Your-Customer verification and will have access to a card for transactions.
Additionally, the Pay Wallet will integrate with OKX’s Ethereum Layer2 network, X Layer, to support USDC and USDT stablecoin payments. The platform will also leverage DeFi to provide users with opportunities for generating returns. A chat feature will enable users to confirm receipt of payments.
It is worth noting that the Pay Wallet is a distinct feature from the existing OKX Wallet app, which was launched earlier this year on both the App Store and Google Play Store. The OKX Wallet offers a comprehensive solution for storing, trading, earning, and managing cryptocurrencies and NFTs across multiple blockchains.
In a previous incident, OKX’s web3 product manager Kyle Chen acknowledged that details about the OKX Wallet app were inadvertently revealed prematurely. The app was initially limited to specific regions and was only available on Google Play.