OKX Wallet Expands Blinks to EVM-Compatible Chains

OKX Wallet has announced an update to its features, now allowing blockchain links, or “Blinks,” to operate seamlessly across all Ethereum Virtual Machine (EVM)-compatible chains. This enhancement aims to streamline multichain transactions for users, eliminating the need to switch platforms during transactions. OKX, recognised as a leading centralised cryptocurrency exchange alongside its Web3 technology initiatives, revealed the development through a press release shared with Cointelegraph.  

This newly added service is quite significant, as it makes OKX Wallet the first digital wallet to expand the Blink feature beyond the Solana ecosystem. It allows users to perform multiple on-chain activities since they can conduct transactions between various blockchains. During a Q&A session with the representatives of Cointelegraph, an OKX representative noted that people on social media will be able to perform blockchain transactions without having to navigate to another service.               

New Functionalities

The integration of Blinks allows OKX Wallet users to conduct on-chain transactions such as token swaps and staking without having to navigate away from their favoured social media platforms. Users can now complete transactions effortlessly by clicking on Blinks—unique URLs linked to specific product pages within the OKX Wallet ecosystem. Jason Lau, the chief innovation officer at OKX, emphasised the importance of this update, stating it presents “the best way to access everything on-chain.”

To maintain the security of transactions, the OKX spokesperson mentioned various safety protocols, including URL verification, encryption protocols, and real-time monitoring for any suspicious activities. Furthermore, any unapproved Blinks will be flagged with a caution indicator, which informs users to engage only with verified links.

Broader Blockchain Support

This expansion is a joint effort with Dialect, the team behind Blinks, which aims to create tools that enhance the user experience on Solana. Lau mentioned that OKX is collaborating with partners from both Solana and EVM ecosystems to ensure comprehensive application support, ultimately providing users with an ever-wider array of seamless actions. “With the addition of multi-chain Blinks, users can now engage in a multitude of on-chain activities directly within their preferred sites and platforms,” Lau explained.

OKX’s Strategic Moves

On July 18, OKX revealed that it had chosen Malta as its hub for Markets in Crypto-Assets (MiCA) to ensure compliance with regulatory standards in the European Union. Erald Ghoos, the general manager of OKX Europe, highlighted that the exchange has held a “VFA Class 4 licence in Malta since 2021,” and has built a complete operational team there. This strategic move will enable OKX to offer EU users access to regulated crypto assets while complying with MiCA’s requirements.

Market Disruption by Bitget Wallet

In a related development, Bitget Wallet has become increasingly popular in Nigeria, reaching the top of the Apple App Store, surpassing major applications like TikTok and WhatsApp. This surge coincides with OKX’s recent exit from the Nigerian market, attributed to operational challenges amidst regulatory uncertainties.

Alvin Kan, Bitget Wallet’s chief operating officer, stated that the wallet’s rise is due to its support for a wide variety of mainnets and cryptocurrency assets, facilitating efficient asset management, token trading, and even participation in project launches through its Launchpad feature—all accessible on a unified platform. 

Highlighting their commitment to security, Kan shared that Bitget Wallet employs advanced protective measures to defend against threats like maximal extractable value attacks. The platform also has a robust $400 million risk protection fund shared with Bitget Exchange.

User Adoption Trends

Bitget Wallet has also been on the rise in Nigeria though the growth has been relatively rapid in the recent months as shown by the 233% increase in the number of users in June month alone. This success has been attributed to a strategic vision in terms of ecosystems like The Open Network and the playful experience like Telegram mini-games. 

While Bitget Wallet continues to establish itself as a powerhouse in Nigeria and other regions, OKX’s decision to withdraw shows that the dynamics of competition in the cryptocurrency sector are changing. However, changing dynamics have never shifted Bitget’s commitment to ensuring that it adheres to international regulations hence providing a safe and compliant platform for the increasing user base in Africa.