OKX founder Star Xu hinted at something big coming for the platform at TOKEN2049 Singapore. This initiative could change the way the platform works and make it stronger for both users and developers.
Star Xu Shares Vision for X Layer
Xu revealed the roadmap for the X Layer and said that building an open public chain is one of OKX’s core strategies. He added that the X Layer will become a fundamental layer for the OKX Wallet and OKX Exchange, helping to build a stronger ecosystem for both users and developers.
He outlined multiple stages for building the X Layer.
https://twitter.com/WuBlockchain/status/1974037792880541867
Phase 1: Launching a Stablecoin
The phase one focuses on launching a stablecoin on X Layer, with USDG expected to launch in the coming weeks.
Phase 2: Robust Infrastructure
Phase two will focus on creating robust infrastructure. OKX plans to integrate major protocols such as Uniswap, Balancer, and Chainlink. These partnerships aim to provide a solid foundation for developers and users to interact with the ecosystem.
Phase 3: Developer Support and Funding
In phase three, OKX will deploy a $100 million Vision Fund to support the XL ecosystem. Part of this initiative will include an on-chain developer conference, where developers and projects can participate and earn direct rewards.
The goal is to support long-term, meaningful on-chain projects and encourage innovation that benefits the entire ecosystem.
OKX’s Stance on Memecoins
Regarding memecoins, Xu expressed a neutral stance. He said that while OKX will not promote projects with fraudulent intent, the company respects well-run memecoin communities and may support long-term, legitimate projects in the ecosystem.
The goal is to encourage innovation without compromising trust and security.
Expanding Crypto Payments in Singapore
OKX recently launched a new payment service in Singapore, letting customers pay GrabPay merchants directly using stablecoins like USDC and USDT. This is the first time GrabPay merchants in Singapore can accept crypto payments, signaling growing adoption of digital assets in the country
Payments made via OKX Pay are first converted to XSGD, a Singapore dollar-backed stablecoin from StraitsX, before merchants receive the funds in Singapore dollars.
OKX also released its 35th Proof of Reserves. Bitcoin holdings increased to about 125,000 BTC, while Ethereum slipped to 1.704 million ETH and USDT dropped slightly to around 9.436 billion.
With X Layer and services like crypto payments in Singapore, OKX is building a safe, reliable, and long-term ecosystem for both developers and users.
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