The cryptocurrency exchange OKX has officially launched in Brazil, providing Brazilian users with advanced crypto trading features and staking rewards.
The launch includes a Web3 wallet tailored for the Brazilian market. This wallet aims to give a secure, trusted entry point to decentralized finance (DeFi) and crypto investing for Brazilian users.
OKX’s Brazil offering enables trading between Brazilian real (fiat currency) and cryptocurrencies within the same mobile app.
According to OKX Brazil General Manager Guilherme Sacamone, Brazilians expect fast, liquid crypto trading paired with a safe self-custody wallet solution in one integrated app. OKX aims to provide that.
This news comes shortly after OKX applied for a virtual asset trading platform license in Hong Kong, making it the first major crypto firm to apply under Hong Kong’s new cryptocurrency regulations.
According to OKX President Hong Fang, the OKX wallet provides easy access to DeFi, NFTs, dApps, and more. It uses advanced security features like Multi-Party Computation (MPC) and Account Abstraction (AA) to enable adoption among non-technical users as well.
Fang said OKX looks forward to driving innovation and growth of Web3 and cryptocurrencies in Brazil as the market there continues to mature.
A recent OKX survey found security was the top concern among Brazilian crypto users. 92% wanted clear, transparent security rules, while over 85% supported crypto exchanges proving their reserves to users.
Sacamone stated that given these survey results, security and transparency are top priorities for OKX in Brazil. He highlighted their robust Proof of Reserves system as an example.
