OKX announced it has expanded its service offerings in Brazil by adding a cryptocurrency exchange and a digital wallet. The Web3 developer said that through the launch of these new services in the country, it will also focus on providing Brazilian users an entrance to decentralized finance (DeFi) as well as crypto trading.

OKX Aims to Provide Secure Crypto Services to Brazilians

As per CoinTelegraph, OKX’s general manager, Guilherme Sacamone, said that the Brazilian market currently has a big potential to be a leader in both DeFi and crypto adoption. The executive made this comment after looking at the results of a recent survey that revealed about 92% of local respondents yearn for clear and transparent information about the security of their investment. Based on the findings, OKX launched a crypto exchange and digital wallet that can provide what the Brazilian users want.

“We know that Brazilians expect fast and liquid trading, along with a secure self-custody wallet solution, all in one app and given the results of our recent survey,” Sacamone said. “We also recognize that security and transparency are top priorities for crypto users in the country thus OKX provides its trading solutions with the best security features, such as our robust Proof of Reserves program."

Targeting Growth and Innovation in Brazil’s Crypto Sector

In any case, it was also noted that OKX is the latest to make these services available in the country, as Bybit, Kraken, Binance, eToro, and Mercado Bitcoin are already in operation in the territory. With its entrance into the market, the company is looking forward to driving innovation and growth of the country’s Web3 and crypto economy.

"We are excited to officially launch our localized platform and services in Brazil, which represents the largest cryptocurrency market in Latin America,” Hong Fang, president of OKX, said in a press release. “Our exchange now offers BRL rails, deep liquidity, tools, security and transparency that Brazilian traders want.”

Photo by: OKX Press Release