OKX continues its expansion in Latin America and landed in Argentina, where it will launch its Web 3.0 wallet with self-custody functions. The fourth largest exchange in the world will allow Argentines to trade NFTs and use DApps like any OKX product. Days ago, OKX presented its fourth PoR, where it revealed $14.9 billion in custody of primary assets: BTC, ETH, USDT and USDC.
The fourth largest exchange in the world, OKX, continues its expansion in Latin America and landed in Argentina, where it will launch its Web 3.0 wallet for trading and staking services. The exchange highlighted that Argentina is an “essential market” for cryptocurrencies in the region.
OKX will allow Argentines to use its self-custody wallet, a platform with DeFi protocols, they will be able to trade non-fungible tokens (NFT) and use decentralized applications (DApps) among all the exchange’s products. Likewise, it will offer customer service in Spanish and local payment alternatives.
OKX Will Allow Users in Argentina Self-Custody of Their Wallets
The cryptocurrency exchange has more than 50 million users in the world and they all have the same usage options, such as: trading with cryptocurrencies, P2P for direct purchases from verified local users, and access to Proof-Of-Reserve (PoR) monthly.
Days ago, OKX presented its fourth PoR, where it revealed $14.9 billion in primary asset custody, as well as the incorporation of Bitcoin Cash (BCH). The exchange also revealed a 104% ratio in primary assets.
The exchange guaranteed sufficient support for users’ funds, who can keep their cryptocurrencies on the exchange or withdraw them. The reserve ratios are: Bitcoin (102%), Ethereum (104%), USDT (104%) and USDC (104%).
In this regard, Alejandro Estrin, Country Manager of OKX Argentina, stated the following:
“We customized an intuitive and localized trading platform for Argentina that covers the main cryptocurrencies and has high liquidity. With these compatible, secure and easy-to-use solutions, adapted to local needs, our goal is to accelerate responsible crypto innovation among retail users and institutional in Argentina.”
OKX is CoinGecko’s fourth-highest-ranked cryptocurrency exchange, with a 10/10 rating and a 24-hour trading volume of $1.6 billion (up 13.9% per day), and 30.5 million visits to its website. website per month. Likewise, OKX has 319 cryptocurrencies and 464 trading pairs listed.
OKX Confident Expanding Cryptocurrency Adoption to Latin America
Regarding the expansion to Argentina, Hong Fang, president of OKX, emphasized that they will seek to expand the adoption of cryptocurrencies and Web 3.0 wallets in the region, with a user-centered approach:
“We are delighted to officially launch the latest expansion of our world-class exchange and Web3 wallet in one of the most vibrant cryptocurrency markets in Latin America. As pioneers at the nexus of technology and finance, our user-centric approach aims to accelerate adoption by meeting local needs first. With more than 50 million users worldwide, OKX provides retail and institutional users with secure access to the exchange’s services and Web3 technology. The promise of crypto and blockchain is expanding across Latin America and Argentina represents a crucial launchpad for our regional growth strategy.”
Argentina is not the only country in Latin America where OKX operates. Last November, it announced the launch of its Web 3.0 exchange and wallet service in Brazil, where the exchange offers wallets with multi-party computing (MPC) technology, with private keys divided under devices at the user’s hand, who controls them in their entirety.
In addition, it integrates multi-party-computation to allow parties to execute calculations in a single anonymized database, allowing a combination of security and efficiency.
By Leonardo Perez