OKX recently announced the official launch of its centralized crypto exchange (CEX) and its OKX wallet in the Netherlands, a significant milestone that showcases its commitment to global expansion.
The announcement on an X post dated June 3 revealed the exchange's plans for extending its trading platform in the European nation.
We're launching our crypto exchange services and Web3 Wallet in the Netherlands 🇳🇱
— OKX (@okx) June 3, 2024
✔ Spot trading & convert services
✔ +150 cryptocurrencies
✔ +60 crypto-Euro pairs@EraldOnChain explains why this is a crucial step within the local community: https://t.co/ggJWvhRCJn pic.twitter.com/TciKvUg2Nb
Interestingly, the new development follows the exchange's rebranding, which saw it change from Okcoin Europe to its current name on April 10.
Transactions With No Charges
According to the announcement on its official website, OKX noted that for its CEX, it is partnering with iDEAL, a local online payment company. This collaboration would allow its Dutch users to deposit euros into their accounts without charges or tariffs.
Alternatively, users can use the Single Euro Payment Area (SEPA), a payment option with free deposits and withdrawal access.
Cryptocurrencies And Web3 Access
Notedly, the new OKX Wallet is a self-custodial web3 wallet that affords Dutch OKX users full custody to their crypto assets.
Aside from the above, it will support over 150 cryptocurrencies and 60 crypto-euro pairs and offer spot trading and conversion services within the Dutch axis.
OKX Europe Manager Sheds More Light About The Milestone
Speaking about the new development, OKX Europe general manager Erald Ghoos noted that the wallet and exchange were designed by experts who have painstakingly considered several customers' feedback about their services before developing a unique wallet interface.
In the spirit of celebrating the launch, OKX offered a free new user bonus of up to 50 euros ($54) for all customers who sign up by July 3.
On The Flip Side
While OKX has shown remarkable expansion potential with its recent European exploit, the cryptocurrency company has withdrawn its services from other areas.
Notably, OKX’s May 24 announcement revealed the company’s plans to withdraw its Hong Kong Virtual Asset Licensing Regime license application, following a deadline issued by the Hong Kong authorities for all trading platforms operating within its jurisdiction to obtain an operations permit license.
In the same vein, the trading platform also halted its services in India following accusations of illegal operations by the Financial Intelligence Unit (FIU) of India's Ministry of Finance.
