The OKX Wallet, a cryptocurrency wallet affiliated with the OKX exchange, is now incorporating DeSyn, a decentralized finance (DeFi) protocol powered by Ethereum (ETH). This integration aims to provide users with the capability to generate synthetic assets and engage in decentralized asset management seamlessly.
OKX Wallet, which supports over 80 blockchains and features MPC technology for convenient wallet recovery, is enhancing its capabilities by integrating DeSyn. DeSyn operates on the Ethereum blockchain, allowing users to create various synthetic assets and trade within authentic market dynamics effortlessly. Users can manage personalized pool-based portfolios, incorporating a range of on-chain assets like tokens, NFTs, and derivatives, through smart contracts.
The DeSyn protocol also offers asset management services, covering fundraising, investment, management, and withdrawal processes, effectively reducing costs associated with creation, management, and participation in the decentralized finance ecosystem.
This integration expands opportunities for users of the OKX Wallet to actively participate in DeFi activities, aligning with the growing trend in the cryptocurrency space.
In August, the OKX Wallet introduced the Smart Account feature, powered by account abstraction technology, to enhance security, convenience, and interoperability for users. This feature simplifies complex actions like token swapping on decentralized exchanges (DEX), offering an improved user experience.
OKX, as a cryptocurrency exchange, has been expanding its services globally. In November, it launched its exchange and Web3 wallet platform in Brazil, providing a secure entry point for Brazilian users into decentralized finance (DeFi) and cryptocurrency trading. The platform supports fiat on-ramp capabilities with Brazilian Real and incorporates the OKX Wallet for managing DeFi products, trading NFTs, and using decentralized apps (dApps).
Furthermore, OKX has demonstrated its commitment to compliance with new regulations. In response to the stringent cryptocurrency advertising regulations introduced by the UK Financial Conduct Authority (FCA) in October, OKX took significant measures to align with the regulations. These measures included streamlining listed tokens, displaying a risk advisory banner, and establishing a dedicated OKX_UK channel on the social media platform X for content dissemination. The move reflects OKX’s dedication to providing a high-quality trading environment and ensuring compliance with financial promotion rules in the UK.
