Leading crypto wallet Bit Berry has signed an MOU with OKEx, one of the world’s biggest cryptocurrency trading platforms. The document states that each company will work with the other to further establish each enterprise’s digital wallet technology. In addition, Bit Berry will list the exchange’s native currency OKB, giving its clients access to an entirely new coin.
OKEx and Bit Berry Join Hands
At the time of writing, Bit Berry is stationed in South Korea and boasts more than 100,000 customers. Bit Berry customers have shown excitement over the idea of potentially trading a new currency. OKB is a hugely popular coin that gives its users several advantages, including access to burns and spot trading. Thus far, the currency has experienced price boosts of nearly 150 percent since the beginning of 2020.
Jae Bum Yoo – CEO of Bit Berry – explained in a recent interview:
Having OKB listed on our wallet is a gateway for our platform to grow globally. OKB is a top 20 coin according to CoinGecko.com and Blockreview.net, so we want our users to be exposed to coins and products ranging from DEFI, payments and security to cryptocurrency trading bots that come together with the OKB ecosystem. This will be win-win-win for all parties. We will work hard to make this happen earlier for our users.
Bit Berry is actively looking to give its customers more access to the decentralized finance (DeFi) space, which has grown tremendously over the past year. The arena is primarily based on Ethereum technology, which explains why so many of the tokens associated with the space are ERC-20 tokens, or coins that stem from ETH. One such coin is OKB.
Bit Berry has commented that it is looking to make DeFi an integral part of its offerings, and that integrating itself with OKEx was the perfect idea. This will give customers access to decentralized exchanges such as Uniswap, which are known for rejecting know your customer (KYC) protocols that allow all customers to remain completely anonymous.
Making DeFi a Legitimate Space
Anndy Lian – a DeFi expert and a member of a special blockchain committee – explained:
I am a user of Bit Berry, and I do see the importance for their wallet to move with the times and embrace DeFi. DeFi as an open financial ecosystem where you can build various small financial tools and services in a decentralized manner. Thanks to their existing framework, Bit Berry’s non-custodial nature can let users safely store their own funds without having to rely on third-party institutions to hold their assets, and by partnering with OKEx and listing OKB to their wallet, this has opened up new opportunities for the current users.
One of Bit Berry’s big claims to fame is that it creates crypto addresses based on users’ phone numbers, making them easier to remember and limiting opportunities for funds to get lost.