According to a blog post uploaded by Status, the company will be partnering with OmiseGO to integrate the OMG network decentralized exchange (DEX) within Status. This will enable interoperability and transactions across multiple blockchains. The information has been uploaded on July the 6th.
Status has always been in good contact with Jun and the OmiseGO team after participating in different research projects, including through the Ethereum Community Fund.
With the partnership, Status will be working closely with the OmiseGO team so as to ensure a seamless integration of their decentralized exchange DEX and collaborate in scalability research and issues. At the same time, Status informs that the collaboration will extend the immediate products and will be looking ahead to the advancement of the web3 ecosystem.
Status and OmiseGO have a shared common vision to make the world a more open and equitable place for everyone. And this can be achieved by providing easy access to the Ethereum blockchain.
OmiseGO focuses on building open financial tools and infrastructure. Status, instead, focuses on putting the tools into the hands and pockets of individuals around the world. Status is sure that the accessibility to decentralized exchanges will help spread the use of cryptocurrencies and build a viable global economy.
Jun Hasegawa commented on the matter:
“The mission of OMG is to put the capabilities of crypto to work for the needs of the real world; Status brings a great value to the OMG Network with a multifaceted user-facing platform leveraging OMG’s back-end infrastructure. This partnership is a step forward for our respective projects, the community and the blockchain industry.”
The OMG network is getting nearer to the initial release of the decentralized exchange, which is a scalable and secure Proof-of-Stake network. Any digital assets will be able to be traded on this platform.
DEX will allow users to have an interoperable network for on-chain and cross-chain transactions, including Bitcoin and other important blockchain platforms. Additionally, Status will be integrating the OmiseGO SDK into the native wallet. In this way, it will have access to the DEX.
Furthermore, Status enabled mainnet by default in the beta release 0.9.21 and it experienced an important number of users transacting and messaging in the product. Status believes that this partnership with OmiseGO is another step in the direction towards decentralization.
Once the integration is completed, Status foresees that transacting users will increase, using more ETH and ERC20 tokens. At the moment of writing this article, OmiseGO is the 20th most important virtual currency in the market according to its market capitalization. Each of the OMG tokens can be bought for $6.92 dollars.