OKCoin launches a new product Superwallet

Announcements | April 24, 2015 By:

On Wednesday, April 22, OKCoin announced the launch of Superwallet.

The Superwallet will allow users to spend Bitcoin (BTC), Chinese Renminbi (CNY) or US dollars at bitcoin-accepting merchants, converting fiat currency to Bitcoin only at the point of sale as a means of transmitting the payment and settling the transaction.

“The Superwallet is not branded as a bitcoin currency product. It will highlight the powerful open protocol which will allow users to spend their chosen currency using the bitcoin protocol in the same way the native tokens of the protocol can be spent,” said Jack Liu, head of OKCoin’s international division.

Superwallet users who wish to transact in BTC will still be able to do so, a feature Liu believes will maintain the company’s appeal to bitcoin users while providing benefits to a larger pool of customers.