OKX, the second-largest offshore exchange globally, has officially introduced its cryptocurrency exchange and Web3 wallet platform in Brazil, aiming to provide a secure and trustworthy gateway for Brazilian users to access decentralized finance [DeFi] and engage in cryptocurrency trading. The platform’s launch also includes the incorporation of Brazilian Real fiat-on ramp capabilities for users.
In accordance with the press release, the OKX Exchange in Brazil stands out by offering a robust platform that enables users to trade hundreds of cryptocurrencies. It goes beyond basic trading functionalities, featuring advanced options such as staking rewards and seamless integration with the decentralized finance ecosystem.
Alongside the exchange, OKX has unveiled the OKX Wallet on the platform. This Web3 wallet serves as a secure self-custody portal, allowing users to access and manage various DeFi products, trade non-fungible tokens [NFTs], utilize decentralized applications [dApps], and more. The wallet boasts being the first of its kind, incorporating both Multi-Party Computation [MPC] technology and Account Abstraction [AA] features. This unique combination opens the door for broader adoption, particularly among users who may be less technically inclined.
OKX President Hong Fang expressed enthusiasm about the official launch of the localized platform and services in Brazil, highlighting the country’s position as the largest cryptocurrency market in Latin America. The platform now provides Brazilian traders with access to BRL rails, deep liquidity, security tools, and transparency, addressing the specific needs of the local market. The OKX Wallet, with its simplified access to DeFi, NFTs, dApps, and more, is positioned to contribute to the innovation and growth of the Web3 and crypto economies as the Brazilian market matures.
OKX Brings Cryptopedia To All Devices
Simultaneously, the cryptocurrency exchange has expanded its endorsement for Cryptopedia to encompass the desktop iteration of the OKX Wallet, in addition to the existing app version. The inclusion of Cryptopedia support on the web rendition of the OKX Wallet now enables users to avail themselves of the learn-to-earn platform on various devices, allowing them to engage in the ongoing seasons of Cryptopedia through the web version.
In addition, the trading platform teamed up with custody provider Komainu and asset manager CoinShares. The recently formed partnership seeks to enable round-the-clock trading of segregated assets while addressing counterparty risks that have been identified as a significant hurdle for institutional traders.