OKX Launches Crypto Exchange and Web3 Wallet Tailored for Brazilian Market

OKX’s crypto exchange and Web3 wallet went live in Latin America’s dominant crypto market.

Global Web3 and technology firm OKX today launched a new crypto exchange and Web3 wallet tailored for the Brazilian market.

According to the press release, the all-in-one platform aims to provide an accessible, secure, and user-friendly solution for local users to interact with decentralized finance (DeFi) and crypto trading. That said, users can start buying, selling, swapping, and trading hundreds of cryptocurrencies on OKX Brazil with ease. The platform also enables them to experience alternative features like ‘staking rewards and DeFi integrations.’

In addition to trading capabilities, the new platform features a Web3 wallet, a self-custody wallet that allows users to safely store and manage their DeFi products, trade NFTs, and engage with dApps. Unlike OKX’s previous Web3 wallet, this Brazil-focused one implements Multi-Party Computation (MPC) technology and Account Abstraction (AA). These two powerful features will protect user privacy against key theft and other security vulnerabilities.

OKX’s goal is to bridge global crypto expertise with Brazilian market demands through this integrated platform. While Brazil boasts impressive crypto adoption rates, recent research by OKX Brazil highlights the non-negotiable importance of security.

A staggering 92% of respondents expressed a strong desire for ‘clear and transparent information about the security of their investments.’ Over 80% of users believe that Proof-of-Reserves (PoR) can play a pivotal role in enhancing the legitimacy and maturity of the cryptocurrency market.