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Crypto Exchange OKX Officially Debuts in Brazil, Offers Trading With Advanced Features

Cryptocurrency platform OKX has officially launched in Brazil, offering users advanced crypto features such as trading and staking rewards. The rollout includes a Web3 wallet in Brazil, providing a secure and trusted gateway to decentralized finance (DeFi) and crypto trading.

The company aims to provide trading with Brazilian real fiat-on-ramp capabilities. OKX Brazil General Manager Guilherme Sacamone stated, “We know that Brazilians expect fast and liquid trading, along with a secure self-custody wallet solution, all in one app.”

This announcement comes shortly after OKX applied for a virtual asset trading platform (VATP) license in Hong Kong, making it the first major industry player to apply under the new crypto regime in the region.

Wallet Features

OKX President Hong Fang mentioned that the OKX wallet offers a range of features, providing easy access to decentralized finance (DeFi), non-fungible tokens (NFTs), decentralized applications (dApps), and more.

The wallet incorporates both Multi-Party Computation (MPC) technology and Account Abstraction (AA) features. These technologies aim to enhance usability and encourage broader adoption, especially among non-technical users.

Fang expressed optimism about contributing to the innovation and growth of the Web3 and cryptocurrency economy, anticipating the involvement of millions of users as the market matures in Brazil.

According to a recent study conducted by OKX exchange, security emerged as a major concern for Brazilians. Among the respondents, 92% expressed the need for clear and transparent security regulations for their investments. Over 85% indicated that proof of reserves (PoR) is a legitimate way to verify customer assets held by a cryptocurrency exchange.

Guilherme Sacamone, OKX Brazil General Manager, acknowledged the survey results, stating, “Given the results of our recent survey, we also recognize that security and transparency are top priorities for crypto users in the country. Therefore, OKX provides its trading solutions with the best security features, such as our robust Proof of Reserves program.”

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I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

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