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OKX Wallet is integrating DeSyn, a decentralized finance (defi) protocol powered by ethereum (eth), to allow users to generate synthetic assets and participate in decentralized asset management.
OKX Wallet is a cryptocurrency wallet from the stables of OKX Exchange. It grants access to more than 80 blockchains and incorporates MPC technology for convenient wallet recovery, the company claims.
Operating on the ethereum blockchain, DeSyn allows users to effortlessly create diverse synthetic assets and trade seamlessly within genuine market dynamics. Users can efficiently manage customized pool-based wallets that incorporate a variety of on-chain assets, including tokens, NFTs, and derivatives, through smart contracts.
Additionally, it offers asset management services spanning fundraising, investment, management and retirement, effectively reducing the costs associated with creation, management and participation.
This crypto-Lending-Platform.html” target=”_blank” rel=”noopener”>integration enhances the capabilities of OKX Wallet, expanding opportunities for users to participate in defi activities.
In August, OKX Wallet introduced a feature known as Smart Account, powered by account abstraction technology. This feature uses the ethereum ERC-437 standard and focuses on offering greater security, convenience, and interoperability for users.
Beyond security, Smart Account simplifies complex actions such as exchanging tokens on decentralized exchanges (DEX), improving the overall user experience. Users can conveniently pay gas fees on any supported chain using the USDC and USDT stablecoins, eliminating the need for each chain's native token.
In November, OKX also expanded its services by launching its Web3 wallet and crypto exchange platform in Brazil. This measure aims to offer Brazilian users a secure entry point to decentralized finance (DeFi) and cryptocurrency trading.
The platform facilitates fiat access capabilities with Brazilian reals and incorporates OKX Wallet, which provides a secure self-custody portal to manage defi products, trade NFTs, and use decentralized applications (dApps).
OKX improves security for optimal trading
In response to strict new regulations governing cryptocurrency advertising in the United Kingdom, OKX took significant action in October. The UK Financial Conduct Authority (FCA) recently introduced these regulations to promote fairness, cleanliness and transparency in cryptocurrency promotions.
Consequently, OKX has rationalized its listed tokens across the region, reducing them from over a hundred to just 40. To align with UK regulatory mandates, the exchange has prominently displayed a risk warning banner on its webpage. and has established a dedicated OKX_UK channel on the website. Social media platform X (formerly Twitter) for content dissemination.
In October, the exchange declared the removal of over 30 trading pairs that no longer meet its listing criteria. This action is part of OKX's ongoing initiative to maintain a resilient user trading environment. Notable projects affected include AVAX-eth, BAT-btc, and HEGIC-USDT.
These adjustments underline OKX's commitment to ensuring a high-quality trading environment and compliance with new financial promotion regulations in the UK.
While some exchanges have chosen to withdraw services from the UK due to these regulations, OKX remains steadfast in providing crypto services to UK users and is actively seeking to improve its products and services for an improved overall experience.
