OKX launches new exchange and crypto wallet in Brazil

Cryptocurrency exchange OKX expands into the Brazilian market with a new exchange and web3 platform, according to a press release. That represents a massive step for the crypto company as it expands its services to global players.

OKX launches platform for Brazilians

OKX’s new platform will offer local individuals a secure environment to trade digital coins, navigate decentralized finance, and explore the web3 industry. Moreover, it allows people to convert Brazilian Reals (BRL) into crypto & vice versa.

Brazilian crypto enthusiasts will enjoy a top-notch platform with advanced functionalities, including DeFi integrations and staking rewards.

Further, the exchange revealed an OKX Wallet, which allows users to trade NFTs, manage DeFi products, and use dapps, among other undertakings. Moreover, the tight spreads and seamless trade execution promises improved investment experience.

The one-of-a-kind wallet combines Account Abstraction features and Multi-Party Computation technology to ensure an easy-to-use platform for all interested participants.

Legitimizing Brazil’s crypto industry

Brazil boasts one of the most dynamic digital assets markets globally. However, security remains a top concern for many. OKX study saw 92% of the participants prioritizing safety and transparency.

Moreover, 86% of respondents trust that proof-of-reserve could bolster legitimacy and crypto market maturity. The press release stated,

“OKX leads the industry in security with monthly, on-chain proof-of-reserve reports verified via zk-STARKs cryptography, with the latest report showing 12.5 billion in primary assets backing user assets by 103%.”

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