OKX, one of the largest centralized exchanges (CEX) by trading volume, has announced the launch of its CEX and a web3 wallet in the Netherlands. This move marks a significant step in expanding their presence in the European crypto market.
Supporting 150+ Cryptocurrencies
On June 3, OKX announced via X that the new platform would support more than 150 cryptocurrencies and 60 crypto-euro trading pairs. This extensive support aims to provide Dutch users with a wide variety of trading options, enhancing their overall trading experience.
Rebranding from Okcoin Europe Ltd. to OKX
Notably, OKX has undergone a rebranding process, transitioning from Okcoin Europe Ltd. to OKX as of April 10. This rebranding aligns with their strategy to unify their services under one recognizable brand name, reinforcing their commitment to providing top-tier crypto services.
Partnership with iDEAL for Seamless Transactions
OKX has partnered with the local online payments company iDEAL to facilitate easy deposits and withdrawals for its Dutch users. This partnership ensures that users can seamlessly manage their funds. Additionally, the platform supports the Single Euro Payments Area (SEPA) for free euro deposits and withdrawals, making transactions more accessible and cost-effective for European users.
Launch of OKX Wallet
In addition to the CEX platform, OKX has introduced a self-custodial web3 wallet, named OKX Wallet, tailored for its Dutch audience. Erald Ghoos, the general manager of OKX Europe, emphasized that the wallet and the exchange have been meticulously designed by a team of experts, taking into account extensive customer feedback.
Regulatory Compliance
Ghoos highlighted that OKX holds a crypto service provider registration with De Nederlandsche Bank (DNB) and a virtual financial asset service provider license in Malta. These regulatory compliances underscore OKX’s dedication to operating within legal frameworks and providing secure, reliable services.
Exit from Hong Kong Market
Interestingly, on May 24, OKX withdrew its application for the Virtual Asset Service Provider (VASP) license in Hong Kong and ceased operations in the region by May 31. Despite being a fast-growing hub for crypto companies, OKX has not disclosed the primary reason for this strategic withdrawal.
Impressive Trading Volume and Assets
According to CoinMarketCap, OKX boasts a 24-hour trading volume of $2.7 billion and nearly 5.9 million weekly visits. The total assets under its management amount to $18.8 billion, with Bitcoin (BTC) holding the largest share at 46.2%, valued at $8.69 billion.
OKX’s launch in the Netherlands signifies a pivotal expansion, promising enhanced crypto trading and management services to Dutch users while maintaining robust compliance and user-centric features.
