BitBerry Signs Partnership Agreement with OKEx, a world-leading cryptocurrency spot and derivatives exchange
South Korea, Seoul, 15 October 2020, ZEXPRWIRE — BitBerry signs MOU with OKEx, a world-leading cryptocurrency spot and derivatives exchange to work together in the cryptocurrency industry. On the signed document, both parties agree to help each other in the markets that they are active in and also look at listing OKB onto BitBerry’s wallet.
BitBerry, founded in 2016 is a leading cryptocurrency wallet in South Korea with over 100,000 users. They aim to make money transfer simple, easy and secure globally based on blockchain technology. While, OKEx is a world-leading cryptocurrency spot and derivatives exchange, offering the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks.
The community members from BitBerry who heard of the plans to include OKB into their wallets spark new excitement in the forum. OKB is a globally available ERC-20 utility token issued by the OK Blockchain Foundation that gives users of the OKEx trading platform various exclusive benefits. OKEx also has a buy-back and burn program for OKB tokens, whereby 30% of spot trading fee income is allocated to acquiring OKB from the secondary market each quarter. In terms of performance, OKB posted gains of 287.96% in 2019 and according to date from CoinGecko, OKB topped the list of the 30 digital cash in the first quarter of 2020, with a 148% increase. A crypto analytics firm Messari, the annual return on investment of OKB is as high as 62%, which is far above the industry average.
Jae Bum Yoo, CEO of BitBerry said: “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, 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 it happen earlier for our users.”
BitBerry has more than 100,000 users on their platform currently and many of the users are also keen to know more about OKB and experience DeFI services that comes in the ecosystem. For example, once the integration and listing of OKB is completed on BitBerry, OKB now can be used as collateral in C2C loans on OKEx. Users can borrow USDT by pledging OKB without incurring any service fees and take advantage of the minimum interest on borrowing, which is as little as 0.01% per day.
Connecting Wallet to DeFI
DeFI or commonly known as decentralized finance refers to financial services, including lending, exchanges, investment, stablecoins, and more, is currently the buzz word in the cryptocurrency space. Financial services are bounded by smart contracts, which are automated enforceable agreements that do not require intermediaries like a bank or lawyer and use online blockchain technology instead.
BitBerry is ready for this space and it is ideal integrating their wallet to OKEx’s full suite of trading products for on DEX such as Uniswap. Anndy Lian, a DeFI expert and also a Member of Gyeongsangbuk-do Blockchain Special Committee, Government of the Republic of Korea added: “I am a user of BitBerry 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, BitBerry’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.”
Planting Seeds for Regional Growth
While BitBerry is a known brand in South Korea, they allow users to transfer money via phone numbers by issuing a unique address based on the unique phone number. The login process is simple and authentication can be triggered using KakaoTalk or fingerprint recognition via Kakao Pay. The strong case study in South Korea gave them more confidence in the regional market.
BitBerry’s sales and marketing spokesperson also highlighted that they are already working with more corporate clients regionally who want to utilize BitBerry’s technology for retail and other commercial purposes. They are continuing its efforts to move beyond its shores into South East Asia such as Singapore, Malaysia, Thailand and Philippines as their next target markets. The regional growth plans will expand more effectively with the help of the MOU with OKEx.
About BitBerry (www.bitberry.app)
Founded in 2016 is a leading cryptocurrency wallet in South Korea with over 100,000 users. BitBerry aims to make money transfer simple, easy and secure globally based on blockchain technology. MonsterCube is the owner of BitBerry and also SODAcoin that is already listed on Bithumb.
About OKEx (www.okex.com)
A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks.
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