OKX, the cryptocurrency exchange, has announced that its wallet will soon support Bitcoin Ordinals and BRC-20 tokens trading. According to a statement released on May 16th, the exchange will enable support for BRC-20 token trading and BTC cross-chain swap this week, while support for Ordinal inscriptions and token casting will be allowed in June. The launch of the new Ordinals Marketplace will make the OKX Wallet the only multichain wallet allowing users to trade and mint Ordinals, BRC-20 tokens, and NFTs across 60+ blockchains through one solution.
This move by OKX is in line with the recent trend of interest in Bitcoin Ordinals, BRC-20, and other developments on the blockchain network, which has pushed the transaction volume on the network to new highs. However, the hype surrounding these assets appears to have faded as the 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.
OKX will not be the first exchange to enable support for Ordinals. Last week, Binance’s NFT marketplace announced that it would allow support for digital assets. Besides the Ordinals support, OKX will also integrate the Bitcoin Lightning Network into its wallet, a feature already on the main exchange. The exchange has 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, said that all these integrations and support for the Bitcoin network demonstrate that the exchange sees the 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 15th, according to data from Dune Analytics.
In conclusion, OKX’s wallet will soon support Bitcoin Ordinals and BRC-20 tokens trading. The exchange will enable support for BRC-20 token trading and BTC cross-chain swap this week, while support for Ordinal inscriptions and token casting will be allowed in June. The launch of the new Ordinals Marketplace demonstrates OKX’s continued support for the Bitcoin ecosystem and will make the OKX Wallet the only multichain wallet allowing users to trade and mint Ordinals, BRC-20 tokens, and NFTs across 60+ blockchains through one solution.
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