Crypto platform OKX has announced its official launch in Brazil, providing users with advanced crypto features such as trading and staking rewards. The launch includes the introduction of a Web3 wallet in Brazil, serving as a secure and trusted gateway for DeFi and crypto trading. In a Monday official release, OKX stated that it would enable trading with Brazilian real fiat-on ramp capabilities.
“We know that Brazilians expect fast and liquid trading, along with a secure self-custody wallet solution, all in one app,” said OKX Brazil General Manager, Guilherme Sacamone.
This announcement comes shortly after the crypto exchange applied for a virtual asset trading platform (VATP) license in Hong Kong, making OKX the first major industry player to apply under the new crypto regime in Hong Kong.
“The OKX wallet comes with a multitude of features including easy access to DeFi, NFTs, dApps, and more,” stated OKX President Hong Fang.
The OKX wallet incorporates Multi-Party Computation (MPC) technology and Account Abstraction (AA) features, ensuring wider adoption among non-technical users. A recent study conducted by OKX revealed that security is a major concern for Brazilians. Of those surveyed, 92% expressed a need for clear and transparent security regulations for their investments, and over 85% supported proof of reserves (PoR) as a legitimate method of verifying customer assets held by a crypto exchange.
“Given the results of our recent survey, we also recognize that security and transparency are top priorities for crypto users in the country,” added Sacamone.
