Cryptocurrency Exchange

OKX Ventures inks an investment deal with Bitmap Tech

OKX Ventures, the investment division of OKX, has entered into an investment agreement with Bitmap Tech, the organization that developed the conventional Bitcoin Layer 2 known as Merlin Chain.

At the time of drafting this piece, Bitmap Tech had accumulated a market capitalization of over $500 million. It is the BRC-420 ‘Blue Box’ collection that has gained the most popularity since the inception of Ordinals assets. 

Merlin Chain, an affiliate product line of Bitmap Tech, is a Bitcoin Layer 2 that integrates a decentralized oracle network, a ZK-Rollup, and proof models for BTC malfeasance. Its objective is to enable the native assets, protocols, and products of Bitcoin on Layer 1 via its Layer 2 network, to reinstate the enjoyment of Bitcoin.

Both companies have established a significant global community by virtue of their prior project involvement. Merlin Chain plans to provide support for various conventional Layer 1 assets, including BRC-420, ARC-20, BRC-20, Bitmap, and others. However, communities that are affiliated with these inscription assets are monitoring Merlin Chain’s progress.

The investment from OKX Ventures will allow the Bitmap team to augment the liquidity and ecosystem of Bitcoin. Merlin Chain has successfully established a robust decentralized application ecosystem and is now seeking to expand.

As stated by Dora Yue, the Founder of OKX Ventures, their expectations are quite high due to the confluence of Bitmap Tech’s endeavor to introduce innovative ideas to Bitcoin and their overarching mission. This pertains to Bitmap Tech’s intention to integrate additional comprehensive Bitcoin solutions.

Dora further states that their partnership with Bitmap Tech, which resulted in the introduction of Merlin Chain, appears to be a significant move. Both companies will be able to exert a revolutionary influence in the Bitcoin space as a result of the investment.

OKX Ventures is actively engaged in the global exploration of prospective blockchain initiatives. The organization supports innovative blockchain technology, thereby contributing to the blockchain industry’s robust growth on a global scale.

Lili Chuang

Lili Chuang is a finance professional with an experience of over a decade in news writing. Recently, she has joined the CoinNewSpan team as a sub-editor. She is a firm believer of blockchain technology and cryptocurrencies. She curates contents regarding the latest insights into the crypto-market. In her free time, she loves to explore new places and connect with influential people of crypto space.

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