Okcoin has announced the fund to support Bitcoin adoption in partnership with leading crypto firms and dive into various Web3 solutions.
Okcoin Journeys into Bitcoin
Cryptocurrency exchange Okcoin has announced a $165M fund to support solutions for the acceleration of Bitcoin adoption.
Dubbed the “Bitcoin Odyssey,” the pledge, in partnership with Stacks Accelerator and Stacks Foundation, will allocate capital and resources towards projects being built on Stacks. According to the March 10 press release, the group will focus on projects with solutions across Web3. This would include the metaverse, blockchain gaming, DeFi, NFTs, and DAOs, among others.
“Bitcoin Odyssey is recalibrating capital and resources back to the foundation of cryptocurrency, and that starts with Bitcoin and Stacks,” noted Alex Chizhik, Head of Listings at Okcoin and Co-Chair of Bitcoin Odyssey in the release. The initiative is in “response to both an influx of investor interest in decentralized finance (DeFi) and new technological capabilities.”
The partnership includes firms like the Digital Currency Group, GSR, White Star Capital, A41 Ventures, Alumni Venture Group, Blockdream, Cosimo VEntures, DeSpread, Ediums Capital, GBV Capital, Gossamer Capital, GSR, Nesho ENterprises, NOIA Capital, Stardust Ventures, Unmutable Ventures, and Westridge Markets.
Chizhik added: “there is still a lot of work to be done for digital assets to be adopted globally in meaningful ways. As the only currency that is truly decentralized, we believe bitcoin should remain at the epicenter for crypto adoption.”
What Is Okcoin
Founded in 2013, Okcoin is a US-headquartered cryptocurrency exchange serving over 190+ countries and territories. The platform enables retail and institutional investors to purchase 50+ digital assets using local currencies, with a mission to make crypto easy for everyone including first-time buyers. Okcoin was the first centralized exchange to offer direct entry into decentralized finance (DeFi) with Earn, a tool for earning APY through decentralized lending, liquidity pools, staking, and more. In addition, Okcoin offers institutional trading tools and APIs to asset managers, venture capital and hedge funds, retail brokers, payment processors, and more.
Where to find Okcoin
What Is Stacks
Stacks provides secure smart contracts and apps for Bitcoin. The Stacks ecosystem is a collection of independent entities, developers, and community members working to build a user-owned internet on Bitcoin. The Stacks blockchain extends the design of Bitcoin to enable secure apps and predictable Clarity smart contracts without modifying Bitcoin itself, opening innovation on the network for the first time. The Stacks cryptocurrency (STX) is used as fuel for networking activity and contract execution and can be locked by STX holders via ‘Stacking’ to earn Bitcoin (BTC) rewards for supporting blockchain consensus. Stacks cryptocurrency was offered to the general public through the first-ever SEC qualified token offering in US history.
Where to find Stacks:
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