HomeNEWSOKX launches crypto exchange and Web3 wallet in the Netherlands

OKX launches crypto exchange and Web3 wallet in the Netherlands


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As part of its expansion efforts, popular cryptocurrency exchange OKX has launched its Web3 wallet and virtual assets service in the Netherlands. The exchange made the announcement on Monday via its official page on X (formerly Twitter). In the announcement, OKX revealed that it will avail more than 150 cryptocurrencies, spot trading, and convert services to customers in the country. 

Also, the exchange will as well offer more than 60 crypto-euro pairs. Meanwhile, the launching of the OKX web3 wallet and cryptocurrency services in the Netherlands is an attempt by the exchange to expand its operating jurisdiction and make virtual assets more accessible to everyone. 

To allow deposits and withdrawals in EUR for the Netherlands users, the exchange integrated with iDeaL, a local payment processor. With the integration, OKX users in the country will now enjoy free and swift transactions in EUR. Similarly, the payment system for citizens of the country on the exchange also includes the Single Euro Payments Area (SEPA).

More so, as a result of its expansion into the country, OKX now holds a regulatory license from De Nederlandsche Bank (DNB), the central bank of the Netherlands. In addition to the spot trading feature, OKX is offering customers in the country a seamless gateway to the cryptocurrency market. 

Side Note on the Expansion of OKX to the Netherlands 

As part of its commitment to delivering top-notch service, the cryptocurrency exchange emphasized the importance of allowing users to have full custody of their virtual assets. Hence, OKX will leverage the support of its Web3 wallet to ensure that users remain in total control of their cryptocurrencies.

Likewise, the virtual assets service provider aims to use its international technical and product knowledge expertise to deliver users unrestricted access to a variety of trading tools. 

The Europe general manager of OKX, Erald Ghoos provided more insight into the expansion into the Netherlands. The executive in his submission described the launching of the cryptocurrency exchange and its Web3 wallet in the Netherlands as a significant milestone in the long-term commitment to the country. 

Erald Ghoos disclosed that before the launch, the exchange gathered a team of experts to design products that suit the demands of local users. Further, he added that the products were driven by users’ feedback. 

While discussing the journey towards the expansion, the general manager stated that the exchange first began operations in the Netherlands as Okcoin Europe after registering with the central bank of the Netherlands, De Nederlandsche Bank. However, in April, the exchange commenced full operations in the Netherlands after rebranding. 

Additionally, to celebrate the launch, OKX announced a 50 ($54) new user bonus for customers who sign up on July 3. 

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David Idowu
David Idowu
David Idowu is a crypto reporter and trader with wealthy years of experience. He believes that blockchain technology has numerous opportunities that are begging for proper utilization. Away from work, David is either reading about World Politics, History or Tech Innovations.

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