OKX rebrands and launches crypto exchange, wallet in the Netherlands

As a researcher with a background in cryptocurrencies and digital asset exchanges, I find OKX’s expansion into the Netherlands an intriguing development. The exchange’s strategic partnerships with local payment providers like iDEAL and SEPA are commendable as they make it easier for Dutch users to access their services. Furthermore, the launch of a self-custodial web3 wallet adds another layer of convenience for users seeking more control over their digital assets.

As a market analyst, I’d put it this way: I’m excited to share that OKX, a leading player in the centralized exchange (CEX) market by trading volume, has recently introduced its CEX platform and a web3 wallet in the Netherlands.

Beginning on June 3rd, the cryptocurrency exchange announced its plan to accommodate over 150 distinct cryptocurrencies and provide approximately 60 trading pairs between crypto and Euro on its platform.

Notably, the exchange rebranded from Okcoin Europe Ltd. to OKX on April 10.

As an analyst, I’m thrilled to announce that our team is expanding our services to include crypto exchange offerings and Web3 Wallets in the Netherlands. Here’s what you can expect:

— OKX (@okx) June 3, 2024

According to the recent announcement, OKX has partnered with the local Dutch online payments provider iDEAL. This collaboration enables OKX users in the Netherlands to effortlessly add funds to and withdraw funds from their accounts. Additionally, they can utilize SEPA for free Euro deposits and withdrawals.

Alongside the CEX platform, OKX introduced a self-custodial web3 wallet named OKX Wallet for Dutch users. According to OKX Europe’s general manager Erald Ghoos, both the wallet and the exchange were meticulously developed by a team of experts based on customer feedback.

Ghoos noted that OKX is registered as a cryptocurrency service provider with De Nederlandsche Bank (DNB) in the Netherlands, and also holds a license for providing virtual financial asset services in Malta.

On May 24, OKX withdrew its application for a Virtual Asset Service Provider (VASP) license in Hong Kong. The exchange subsequently halted operations in the city on May 31. Yet, OKX has remained silent about the primary motivation for abandoning one of the world’s leading hubs for cryptocurrency businesses.

Based on information from CoinMarketCap, OKX records a trading volume of approximately $2.7 billion over the past 24 hours and attracts around 5.9 million weekly visits. The platform manages a total asset value of roughly $18.8 billion, with Bitcoin (BTC) representing the largest portion at 46.2%, or around $8.69 billion.

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2024-06-03 13:00