OKX Launches Its Crypto Exchange and Web3 Wallet Platform in Brazil

OKX Launches Its Crypto Exchange and Web3 Wallet Platform in Brazil

| Updated
by Steve Muchoki · 3 min read
OKX Launches Its Crypto Exchange and Web3 Wallet Platform in Brazil
Photo: Depositphotos

Brazilian crypto enthusiasts can now access enhanced trading features and services from the OKX exchange involving hundreds of digital assets from different blockchains.

Leading international cryptocurrency exchange OKX with a verified daily traded volume of about $2.1 billion and over 25 million in average monthly visits, has officially ventured into the largest South American economy, Brazil. According to the announcement, Brazilian crypto investors can now seamlessly trade through the OKX exchange and also store their digital assets through the company’s web3 wallet. As a trusted web3 technology company, OKX will be offering crypto trading services in the Brazilian Real in addition to seamless fiat on and off/ramping capabilities.

OKX Deal in Brazil

According to a recent report, more than 33 million South Americans are invested in the cryptocurrency market and more are expected to join the wagon amid the rising inflation. Consequently, OKX has made a bold move by entering the South American market through regulated channels in Brazil. Moreover, the Brazilian government has implemented clear crypto regulations to enable more international investors like OKX to participate in the local economy.

“We’re excited to officially launch our localized platform and services in Brazil, which represents the largest cryptocurrency market in Latin America. Our exchange now offers BRL rails, deep liquidity, tools, security, and transparency that Brazilian traders want. Our OKX Wallet provides simplified access to DeFi, NFTs, dApps, and more. We look forward to driving innovation and growth of the Web3 and crypto economy with millions of users as the market matures in Brazil,” Hong Fang, OKX President, noted.

Similar sentiments were expressed by Guilherme Sacamone, General Manager at OKX Brazil, who added that the company is focused on offering deep liquidity for the listed crypto assets with enhanced security. Moreover, a recent survey conducted by OKX in Brazil concluded the majority of local crypto investors are concerned with security for their investments.

“..Given the results of our recent survey, we also recognize that security and transparency are top priorities for crypto users in the country. Therefore, OKX provides its trading solutions with the best security features, such as our robust Proof of Reserves program,” Sacamone added.

Market Outlook

Amid the mainstream adoption of digital assets, OKX crypto exchange takes pride in over 50 million global users and a highly traded native token dubbed OKB. As of this report, OKB had a fully diluted valuation of about $13.4 billion and a daily average trading volume of about $9.6 million. Worth noting that the OKB price hovered around $56 on Monday, up over 26 percent in the past four weeks. With the official launch in Brazil, OKX crypto exchange anticipates growing its ecosystem exponentially in the coming years, more so with the macro bull market expected to take place in the coming two years.

Blockchain News, Cryptocurrency News, News
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