OKX launches crypto exchange and web3 wallet in Brazil

OKX has launched its crypto exchange and Web3 wallet in Brazil, marking a significant expansion into the Latin American market with a focus on providing secure and comprehensive crypto trading and defi services.

Global web3 technology company OKX has recently expanded its reach by launching a crypto exchange and web3 wallet platform in Brazil. This move provides Brazilian users with direct access to decentralized finance and cryptocurrency trading. The introduction of the OKX platform in Brazil is notable for its inclusion of Brazilian real fiat-on-ramp capabilities, facilitating easier entry for local users into the crypto market.

The OKX Exchange offers a comprehensive platform for trading a vast array of cryptocurrencies. It stands out with its advanced crypto features, such as staking rewards and defi integrations, catering to both novice and experienced traders.

In addition to the exchange, OKX has introduced the OKX Wallet, a web3 wallet that merges user-friendliness with high security. This wallet is notable for being the first to integrate multi-party computation technology and account abstraction features, which are designed to appeal to less technical users.

OKX President Hong Fang expressed enthusiasm about the company’s expansion into Brazil, emphasizing the platform’s deep liquidity, tools, security and transparency tailored to meet the needs of the country’s traders. The platform’s launch coincides with a growing interest in and maturation of the crypto and web3 economy in the region.

A critical aspect of OKX’s strategy in Brazil is addressing the concerns around security in the crypto space. A study commissioned by OKX Brazil highlighted that a vast majority of crypto users in the country prioritize clear and transparent information regarding the security of their investments.

In response, OKX has implemented rigorous security measures, including monthly on-chain proof-of-reserves reports verified by zk-STARKs cryptography, showcasing a solid backing for user assets. Guilherme Sacamone, OKX Brazil’s General Manager, highlighted the platform’s commitment to meeting the specific needs and expectations of the Brazilian market.