OKX forges into Brazil with crypto exchange and Web3 wallet

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Leading crypto exchange OKX has announced a new crypto exchange and Web3 wallet launch in Brazil.

OKX fosters crypto adoption in Brazil

Despite the unfavourable environment for crypto in many countries across the world, the crypto infrastructure is still being built out at speed. Crypto exchange OKX is moving into the vast territory of Brazil with a new crypto exchange together with a Web3 wallet.

According to an article on the launch on the OKX website, the new exchange will give Brazilian users the opportunity to on-ramp their currency in order to buy crypto in a secure environment. 

Security is main concern for Brazilians

In fact, according to a recent study commissioned by OKX Brazil, security is the main concern for those looking to invest in cryptocurrencies, as 92% of respondents to the study stated that there was a “need for clear and transparent information about the security of their investments.”

The new OKX wallet launch is also big on security, and is said by OKX to be the first to incorporate both Multi-Party Computation (MPC) and Account Abstraction (AA) technology.

The wallet will enable users to access DeFi, trade NFTs, and utilise dApps among other features.

OKX management quotes

Hong Fang, President of OKX, said of his company’s foray into Brazil:

“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.”

OKX Brazil General Manager Guilherme Sacamone stated:

“OKX is committed to helping Brazil realize its enormous potential as a cryptocurrency and Web3 leader in global decentralized finance. As a result, we delivered a comprehensive platform that merges world-class crypto excellence with user experience specifically tailored for the Brazilian market. We know Brazilians expect fast, liquid trading and a safe custodial wallet solution they can trust, all in one application.” 

He added:

“Given the results of our recent survey, we also recognize that security and transparency are major priorities for Brazilian crypto users. OKX delivers this with best-in-class security features, such as our leading monthly PoR.”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.