OKX Launches Exchange and Wallet Services in the Netherlands

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OKX, a leading global crypto exchange, and Web3 technology company, has officially launched its centralized crypto exchange and OKX Wallet in the Netherlands. According to the announcement, this strategic move is poised to offer robust trading opportunities and innovative features for cryptocurrency enthusiasts and investors. 

OKX’s New Launch Comes with Lots of Benefits

OKX also aims to seize a significant share of the market following Binance’s recent withdrawal from the region. The newly launched OKX exchange allows users to trade over 150 cryptocurrencies, including over 60 crypto-Euro pairs. This extensive range of trading pairs provides Dutch users with a diversified portfolio to explore, enabling them to engage seamlessly in transactions with various digital assets.

In addition to the extensive trading options, OKX will support Euro deposits and withdrawals, streamlining the process for users to enter and exit the cryptocurrency market. This feature is expected to enhance the user experience by providing a straightforward and efficient way to manage fiat and digital currencies.

Additionally, OKX is launching its web3 capabilities via the OKX wallet in the Netherlands. Users of the OKX Wallet will have complete control over their cryptocurrency holdings. Likewise, OKX’s integration with the iDEAL online payment system in the Netherlands will enable users to instantly and cost-free deposit funds into their accounts. Users will also have the option to deposit and withdraw funds through the Single Euro Payments Area (SEPA) at no additional cost.

OKX Expansion and Global Outreach

OKX’s expansion efforts extend beyond the Netherlands, as evidenced by its recent initiatives in Latin America and the Middle East. Earlier in February, OKX launched crypto exchange services and its web3 wallet in Argentina, marking a strategic move to capitalize on the region’s increasing interest in crypto and blockchain technology.

OKX also obtained a Virtual Asset Service Provider (VASP) license in Dubai in January, signaling its commitment to serving the Middle Eastern market and a clear expansion strategy across different continents. Similarly, the cryptocurrency exchange launched in Turkey, signaling its commitment to extending its reach beyond existing markets and tapping into emerging crypto-friendly regions.

However, OKX’s expansion has not been a fairy tale as the firm faces potential scrutiny from South Korean authorities. Allegations of promoting its Jumpstart program to South Korean investors without proper registration have raised concerns and may lead to regulatory inquiries in the future.

OKX Unveils New System to Share Liquidity

Two months ago, OKX and the Ethereum-based layer-2 protocol Polygon joined forces to officially release the former’s X Layer engine on the mainnet. As announced, the X Layer network is about speeding up and making Ethereum transactions more affordable for their 50 million users.

X Layer will indirectly enable users to interact with decentralized applications, trade digital assets, and participate in various blockchain activities. The mainnet secures and provides efficient transfer of assets across different chains, allowing for seamless cross-chain transactions. Notably, this is an exciting development that will contribute to the overall evolution of the blockchain ecosystem.

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