OKX Targets Brazil: New Crypto Exchange and Wallet on the Horizon

• OKX Expands Its Exchange and Web3 Wallet Services to Brazil
• OKX Harnesses Brazil's Crypto and DeFi Potential
• OKX and the Growing Crypto Interest in Brazil
• Regulatory Support Boosting Industry Competitiveness in Brazil

OKX Expands Its Exchange and Web3 Wallet Services to Brazil

In a bid to tap into the flourishing crypto market in Brazil, cryptocurrency exchange OKX has rolled out its services in the country. This move points at OKX's efforts to take advantage of Brazil's impressive surge in crypto adoption, making the country a promising emerging blockchain market on a global scale.

OKX Harnesses Brazil's Crypto and DeFi Potential

The company's announcement on November 27th underscored the potential of Brazil to spearhead the innovation in cryptocurrency and decentralized finance (DeFi). Guilherme Sacamone, the General Manager of OKX Brazil, remarked on the strong demand among Brazilians for swift, liquid crypto trading coupled with secure self-custody solutions, which will be the pillars of the company's new local offering.

OKX and the Growing Crypto Interest in Brazil

The expansion of OKX coincides with the rising interest in digital assets in Brazil. Studies indicate that over 90% of Brazilians seek clear information about the security of their investments, and 86% think that mandatory proof-of-reserves from exchanges can bolster market trust. While there is no deficit of global trading platforms, such as Binance and Kraken, for Brazilians to access, OKX believes its new localized gateway might become the preferred exchange for both retail and institutional traders in Brazil.

Regulatory Support Boosting Industry Competitiveness in Brazil

Regulatory support has been on the uptick, with Brazil committing to authorize the OECD's notable Crypto-Asset Reporting Framework by 2027. This makes Brazil one of only two South American countries that have pledged their support. José Ribeiro, CEO of the Brazilian crypto exchange Coinext, regards such progressive policies from lawmakers as key drivers for enhancing competitiveness in the industry.

Edited by Jonathan Stoker