OKX, a leading global Web3 technology company, has officially launched its virtual asset exchange and Web3 wallet in Brazil. This strategic expansion provides Brazilian users with secure and reliable access to decentralized finance (DeFi) and cryptocurrency trading services, now fully supporting the Brazilian Real (BRL) for deposits, withdrawals, and trading.
A Comprehensive Platform for Brazilian Users
The newly launched exchange offers a robust trading environment where users can access a wide range of major cryptocurrencies. Key features include staking rewards and seamless integration with various DeFi products. The platform is designed to meet the needs of both new and experienced traders, combining user-friendly functionality with advanced trading tools.
One of the standout offerings is the self-custody Web3 wallet, which allows users to manage decentralized assets, trade NFTs, and interact with dApps through a secure and intuitive interface. This wallet is the first to incorporate both Multi-Party Computation (MPC) technology and Account Abstraction (AA), significantly simplifying the user experience for those new to the Web3 ecosystem.
👉 Explore secure trading platforms
Leadership Perspectives on the Brazilian Market
According to Hong, President of OKX, "Brazil is the largest cryptocurrency market in Latin America, and we are thrilled to introduce our localized platform and services here. Our exchange provides Brazilian traders with the ability to transact in their local currency, deep liquidity, and a secure, transparent environment. Our OKX wallet offers the most convenient gateway to DeFi, NFTs, and dApps. As the Brazilian market matures, we look forward to collaborating with millions of users to drive innovation and growth in the Web3 and digital asset economy."
Recent user research conducted by OKX's Brazilian office highlights security as a top concern among local cryptocurrency users. The study found that 92% of respondents desire more transparent information regarding asset flows from trading platforms, while 85% believe that Proof-of-Reserves (PoR) reports enhance the legitimacy and maturity of the cryptocurrency market.
In response to these needs, OKX publishes monthly PoR reports verified with zk-STARK cryptographic technology, setting a high standard for industry security. The latest report confirms that OKX holds $12.5 billion in major assets, ensuring user funds are backed at a ratio of more than 1:1 (103%).
Commitment to Security and Transparency
Guilherme Sacamone, General Manager of OKX Brazil, emphasized the company's dedication to local users: "Brazil has immense potential to become a global leader in DeFi, cryptocurrency, and the broader Web3 industry. OKX is committed to helping Brazil realize this potential by providing world-class cryptocurrency services and tailored product experiences. Our research clearly shows that security and transparency are top priorities for Brazilian users, and OKX delivers top-tier security features, including our regularly updated Proof-of-Reserves."
The introduction of OKX's services in Brazil marks a significant step in expanding access to secure and innovative digital asset solutions. The platform's emphasis on transparency, user education, and localized support aims to foster greater adoption and trust among Brazilian cryptocurrency enthusiasts.
👉 Discover advanced wallet features
Frequently Asked Questions
What services does OKX offer in Brazil?
OKX provides a virtual asset exchange and a self-custody Web3 wallet. Users can trade cryptocurrencies using Brazilian Reals, engage in staking, and access DeFi products, NFTs, and dApps.
How does OKX ensure the security of user funds?
OKX uses monthly Proof-of-Reserves reports verified with zk-STARK technology to ensure all user funds are fully backed. The platform also incorporates MPC and Account Abstraction in its wallet for enhanced security and usability.
Why is the Brazilian market important for OKX?
Brazil is the largest cryptocurrency market in Latin America, with a growing number of users seeking secure and transparent trading platforms. OKX aims to support this growth by offering localized services and educational resources.
Can users trade with Brazilian Reals on OKX?
Yes, OKX now supports deposits, withdrawals, and trading in Brazilian Reals, making it easier for local users to engage with cryptocurrency markets.
What makes OKX's Web3 wallet unique?
The OKX Web3 wallet is the first to combine MPC technology and Account Abstraction, allowing users to manage assets, interact with dApps, and trade NFTs without requiring extensive technical knowledge.
How often does OKX publish its Proof-of-Reserves reports?
OKX releases updated Proof-of-Reserves reports on a monthly basis, providing continuous transparency regarding the company's asset holdings and user fund security.