OKX Officially Launches Its Crypto Exchange and Web3 Wallet in Brazil

TL;DR

• OKX has launched its cryptocurrency trading service and Web3 wallet in Brazil.

• The crypto exchange believes Brazil has the potential to lead in crypto adoption and DeFi.

Crypto Exchange OKX Expands To Brazil

OKX, one of the leading cryptocurrency exchanges in the world, announced the launch of its crypto exchange and Web3 wallet in Brazil. 

In a press release published on Monday, OKX said this latest development provides Brazilian users with a trusted, secure gateway to decentralized finance (DeFi) and crypto trading. With the launch of the OKX platform in Brazil, Brazilian Real fiat-on ramp capabilities are also now available to users.

Guilherme Sacamone, the general manager of OKX Brazil said OKX believes that the Brazilian market has the potential to lead crypto adoption and DeFi. he said,

“OKX is committed to helping Brazil reach its enormous potential as a leader in the adoption of cryptocurrencies and decentralized finance in the Web3 universe. For this reason, we delivered a comprehensive platform that combines global crypto excellence with user experience specifically tailored to the Brazilian market.”

OKX President Hong Fang added that,

"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."

The OKX Wallet makes it possible for users to manage DeFi products, trade NFTs and use dApps in a user-friendly and secure manner. The Web3 wallet is the first to feature both Multi-Party Computation (MPC) technology and Account Abstraction (AA) features, paving the way for wider adoption among less technical users, the team added.

Brazil remains a huge cryptocurrency market in Latin America. eToro, Bybit, Kraken, Mercado Bitcoin and Binance are some of the leading cryptocurrency exchanges that operate in the country.