OKX and Jambo, a Web3 mobile infrastructure builder, have recently announced a partnership aimed at enhancing the accessibility of the digital economy in emerging markets by combining advanced Web3 and mobile technologies.
This partnership reportedly follows “a strategic investment in Jambo made by OKX’s investment arm, OKX Ventures, with a shared mission of enhancing access to Web3 technologies and driving adoption.”
The partnership will involve integrating OKX’s app “with the Web3 JamboPhone, competitively priced at US$99 and specifically tailored for emerging markets.”
The phone is currently available “in over 120 countries.”
The OKX app, pre-installed on the JamboPhone, will aim to “provide users with seamless access to a comprehensive suite of exchange and non-custodial Web3 Wallet features, covering 200,000+ coins, 90+ networks, thousands of dApps, the most extensive inscription marketplace, and more.”
The JamboPhone aims to address “some of the most challenging issues faced by emerging markets, such as a large unbanked population and limited access to smartphones.”
By integrating with OKX’s app, Jambo says that it “is taking a step towards bringing secure, user-friendly and accessible Web3 mobile tools.”
This empowers millions of users in emerging markets “to navigate the digital economy, fostering greater financial inclusion.”
As covered, OKX are pleased to announce that they have invested in Bitlayer, which is describe as the first Bitcoin security-equivalent Layer 2 based on BitVM.
Bitlayer aims to scale the Bitcoin network’s transaction capability.
Advocating for the Taproot and BitVM technologies, Bitlayer has “adopted the Discreet Log Contract (DLC) framework to handle more conditional financial applications securely.”
Over the past 15 years, Bitcoin has “dominated 53.4% of the more than 2.28 trillion crypto assets. Ethereum contributed 15.8%, with its Total Value Locked (TVL) exceeding $90 billion and Layer 2 solutions scaling to $39 billion.”
The momentum brought by the Ordinals, Runes and BRC-20 protocols “is evident, with Runes and Ordinals reaching a market cap of over $700 million and $33 million, respectively.”
This equates to approximately $418 million in total fees. Moreover, over 11.39 million active Bitcoin users “are seeking diverse interactions within the Bitcoin network.”
In another recent update from OKX, it was noted that they are announcing their strategic partnership with Hidden Road Partners, the global credit network for institutions.
This partnership aims to offer “a turn-key experience for Hidden Road’s clients, enabling them to execute advanced trading strategies and facilitate delta rolls more efficiently.”
