OKX Joins Forces with JamboPhone to Push Web3 Adoption, Compete with Solana Saga

OKX will integrate its crypto exchange and wallet features with JamboPhone, which already comes laden with built-in support for Web3 functionalities.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 24 May 2024 19:41 IST

OKX Joins Forces with JamboPhone to Push Web3 Adoption, Compete with Solana Saga

Photo Credit: X/ @OKX_Ventures

JamboPhone was launched in March this year and is priced at $99 (roughly Rs. 8,230)

Highlights

JamboPhone supports Web3 functionalities
JamboPhone, OKX wish to offer Web3 services in emerging digital economies
Previously, Solana also powered the Saga smartphone with Web3 features

The OKX crypto exchange recently announced a partnership with Jambo, a Web3-enabled smartphone brand. Through this partnership, both the brands are looking to push the Web3-backed digital economy in smartphone-friendly emerging markets. While Web3 and smartphones – both of which make for individually recognised markets in themselves -- their integration with each other is a concept that has not been explored quite in depth. With this smartphone, Jambo and OKX are also expecting to compete with the Solana Saga smartphone.

As part of this deal, OKX will integrate its crypto exchange and wallet apps with JamboPhone, which already comes laden with support for Web3 functionalities. The phone is priced at $99 (roughly Rs. 8,230), according to its website.

“By embedding OKX directly within the Jambo ecosystem, we're making it easy for users in emerging markets to safely and efficiently engage with the digital economy,” said James Zhang, Co-founder of Jambo as commenting on the development.

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After securing a $30 million (roughly Rs. 249 crore) Series A funding in 2022, Jambo Technology, which is reportedly an Africa-based tech firm, launched its JamboPhone in March 2024. The phone comes with built-in features to let users play, earn, and store digital assets within its ecosystem. Along with Web3 capabilities, the smartphone comes with a 6.5-inch LCD display, an octa-core T606 chipset, a dual rear camera setup, and runs Android 13.

The smartphone was launched in partnership with blockchain firm, Aptos Foundation. As per the official website of JamboPhone, it is currently available in over 120 countries where OKX is also now looking to expand its business and operations.

JamboPhone Riot :chart_with_upwards_trend::chart_with_upwards_trend::chart_with_upwards_trend: pic.twitter.com/8nYzBQogrD
— Jambo (@JamboTechnology) April 8, 2024

For OKX, its venture arm called OKX Ventures is investing an undisclosed amount in Jambo and has officially made an announcement on the same on its X handle, which is has over 123,000 followers.

Big Bang！ OKX Ventures is investing in Jambo with a shared mission of enhancing access to Web3 technologies and driving adoption. @okx @okxweb3 @okx_vietnam @JamboTechnology
Read more: https://t.co/ldlFMniPzu #OKXVentures #JAMBO #PHONE #Blockchain #Innovation pic.twitter.com/6cDyBiLMAT
— OKX Ventures (@OKX_Ventures) May 23, 2024

The partnership also aims to compete with Saga, the Solana-powered smartphone which was unveiled in June 2022. The Saga phone features an inbuilt Seed Vault to safely store all the private keys linked to the device among other Web3 features. It is developed by OSOM, a relatively new tech firm.

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3/ Right now, web3 is not made for smartphones, and you need a desktop browser to take full advantage of it.

Solana Mobile Stack is a crypto layer built on Android to make the mobile web3 user experience seamless. https://t.co/jBhmTFGs1f
— Solana (@solana) June 23, 2022

The Saga smartphone comes with a 6.67-inch AMOLED display with full-HD+ resolution (1080×2400 pixels) and a 120Hz refresh rate, a 50-megapixel primary rear camera, rear fingerprint sensor, a ceramic back panel, and titanium accents. It also runs Android 13 out-of-the-box.

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Further reading: Cryptocurrency, OKX, Crypto Exchange, JamboPhone, Jambo

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More