Cryptocurrency exchange OKX, a Web3 technology company, announced the launch of its Web3 platform and wallet in Brazil, giving local users reliable and secure access to decentralized finance (DeFi) and digital asset trading.
In addition to a powerful platform for trading hundreds of cryptocurrencies, the exchange will provide Brazilian users with advanced features, including rewards for betting and DeFi integration, as well as fiat transactions in the local currency (Brazilian real).
According to PR Newswire, the platform also features OKX Wallet, a Web3 wallet that provides access to a convenient and secure self-custody portal for accessing and managing DeFi products, trading NFTs, using decentralized applications (dApps), and more.
OKX Wallet is the first wallet to implement Multi-Party Computation (MPC) technology and account abstraction capabilities. It's worth noting that this approach not only provides a high level of security but also encourages wider adoption among less tech-savvy users.
"We are excited to officially launch our localized platform and services in Brazil, the largest cryptocurrency market in Latin America. Our exchange now offers the BRL, deep liquidity, tools, security, and transparency that Brazilian traders want. Our OKX Wallet provides simplified access to DeFi, NFT, dApps, and more. We look forward to contributing to the innovation and growth of the Web3 and cryptocurrency economies with millions of users as the market matures in Brazil," commented Hong Fang, President of OKX, on the launch of the platform.
A survey commissioned by OKX Brazil revealed that security is a major concern for Brazilian cryptocurrency marketers. Some 92% of respondents expressed the need for clear and transparent information about the security of their investments, and 86% agreed that Proof of Reserves (PoR) can positively contribute to the legitimacy and maturity of the cryptocurrency market.
"OKX is committed to helping Brazil unlock its huge potential as a leader in the adoption of cryptocurrencies and decentralized finance in the Web3 universe. That's why we've created a comprehensive platform that combines the world's leading cryptocurrencies with a user experience tailored specifically for the Brazilian market. We know that Brazilians expect fast and liquid trading, as well as a secure wallet for self-custody, all in one app. Based on the results of our recent survey, we also know that security and transparency are top priorities for cryptocurrency users in this country. That's why OKX equips its trading solutions with the best security features, such as our robust Proof of Reserves program," said Guilherme Sacamone, General Manager of OKX Brazil.
OKX launched in 2017 and offers its 50 million users more than 100 cryptocurrencies, multiple ways to generate passive income, and plenty of educational material.
Further reading: Binance announced the launch of USTC contract with up to 50x leverage.
