Circle, the issuer of stablecoin, and OKX, a global crypto exchange, have formed a dynamic partnership that aims to transform the landscape of Web3. In their joint announcement, they disclosed the integration of USDC features into both the OKX Wallet and OKX DEX aggregator.
The “USDC Zero Network Fee Campaign” presents an exclusive opportunity for users of OKX Wallet’s Smart Account. During this time-limited initiative, users can conduct USDC transactions without incurring any network fees.
The campaign runs from Sept 7 to Oct 5 and aims to simplify transactions across multiple blockchains using USDC. This is made possible by the Smart Account’s innovative account abstraction technology, launched on Aug 2, 2023.
When the exchange DEX aggregator is integrated with Circle’s Cross-Chain Transfer Protocol (CCTP), users can enjoy a smoother experience while engaging in USDC pair trading. This development is more than just convenient; it’s a crucial milestone in improving the usability of cross-chain USDC. It impacts ecosystems such as Ethereum, Avalanche, Arbitrum, and the OP Mainnet.
Jason Lau, the Chief Innovation Officer at OKX, is committed to improving the user experience in the Web3 space. He emphasizes that OKX Wallet’s Smart Account allows users to seamlessly exchange USDC across different networks, providing unprecedented convenience and cost savings by eliminating network fees.
Dante Disparte, Circle’s Chief Strategy Officer and Head of Global Policy, expressed his enthusiasm for making DeFi more accessible through CCTP and innovative gas abstraction features. This strategic move aligns with Circle’s goal of spearheading transformative change in the financial industry. It also aims to drive wider adoption of blockchain technology.
OKX Ventures into India: Crypto Frontier
In addition to their partnership, OKX is also making a significant impact as they enter the Indian market. The exchange has taken steps to recruit local talent to enhance their wallet services and foster connections within India’s thriving Web3 community.
Haider Rafique, the Chief Marketing Officer of the exchange, recognized the immense potential in India. Currently, OKX Wallet caters to only 5% of the Web3 user base in this country. He emphasized that the exchange follows a community-centric approach to gather valuable insights. It aims to foster meaningful relationships within India’s crypto landscape.
Nevertheless, the exchange’s expansion efforts are in line with its position as the sixth-largest global crypto exchange. It operates from regional hubs in Singapore, Dubai, Hong Kong, and the Bahamas. Instead of establishing a physical office in India, the company aims to collaborate with local talent to navigate and contribute to the local Web3 ecosystem.
This comprehensive approach, combined with recent collaborations and initiatives, establishes the exchange as a strong contender. It positions itself firmly in the dynamic world of crypto and blockchain.
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“The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.”
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