OKX Adds Dogecoin Ordinarys And Other Tokens To Its Digital Wallet

OKX will be integrated with the Ordinal Dogecoin DRC-20 network. (Photo; Doc. Bitexpert)

JAKARTA - The OKX crypto exchange announced the expansion of its digital asset offerings by combining various new token standards into its wallets and markets. This step aims to provide convenience and security for users in managing, buying, and selling various types of cryptocurrencies.

In an official statement, OKX said that its wallet would support token standards such as ARC-20 (Atomicals), DRC-20 (Dogecoin Ordinarys or Dogs), and Runes. This standard token is a derivative of the BRC-20, the standard token running on the Bitcoin network. This new token standard has a unique name according to the network they use, such as PRC-20 on Polygon PoS, Ethscriptions on Ethereum, and Solana Inscriptions on Solana.

In addition, OKX will also integrate the standard Dogecoin Ordinarys and Bitcoin SRC-20 (Stamps) tokens into its crypto market. Thus, users can buy and sell these tokens at no cost whatsoever. Dogecoin Ordinarys is the standard token created by the Dogecoin community to develop the Dogecoin ecosystem.

This token has a DRC-20 symbol and can be used to create other Dogecoin-based tokens. Bitcoin SRC-20 is the standard token created by Stamps, a platform that allows users to create Bitcoin-connected tokens.

Jason Lau, Chief Innovation Officer at OKX, said that the integration of the new token standard is the company's response to market demand that continues to rise. He added that OKX has seen a significant spike in its number of self-custodial web3 wallet users, especially in Asia. Web3 wallets are wallets that allow users to access decentralized applications (dApps) running on crypto networks.

"We are committed to providing the best experience for our users in managing, buying and selling digital assets. By integrating new token standards into wallets and markets, we hope to expand our product offerings and meet the needs of diverse users," Lau said in a press release.

OKX is a global crypto trading platform that provides various services, such as spot trading, margin trading, futures trading, perpetual swap trading, and staking. OKX also has other products, such as OKExChain, OKEx Wallet, OKEx Pool, and OKEx Academy. According to CoinMarketCap data, OKX ranks third in terms of daily trading volume, totaling around $2.5 billion (IDR 39.51 trillion).