OKX rebrands and introduces new crypto services in Netherlands

adminJune 11, 2024

Recognized as one of the best centralized exchanges (CEXs) by trading volume, OKX has made significant progress in the Netherlands. On April 10, OKX launched its CEX platform and web3 wallet specifically for the Dutch market after rebranding from Okcoin Europe Ltd.

OKX launches new service in collaboration with iDEAL

As of June 3, the exchange announced that it would support a broad range of over 150 cryptocurrencies, with 60 cryptocurrency-euro trading pairs on X. This rebranding and expansion is part of OKX’s strategy to meet the growing demand for cryptocurrency services in Europe.

A notable partnership has been established between OKX and iDEAL, a popular local online payment company. This collaboration will allow Dutch users to easily deposit and withdraw funds from their accounts. Additionally, Single Euro Payments Area (SEPA) integration enables free Euro deposits and withdrawals, further simplifying the user process.

In parallel with the CEX platform, OKX launched OKX Wallet, a self-managed web3 wallet designed for Dutch users. This wallet, like the exchange, has been meticulously developed by a team of experts who have taken into account customer feedback to ensure a smooth user experience. Erald Ghoos, General Manager of OKX Europe, highlighted that OKX holds a cryptocurrency service provider registration with De Nederlandsche Bank (DNB) and a virtual financial asset service provider license in Malta.

Despite developments in Europe, OKX recently decided to withdraw its application for a Virtual Asset Service Provider (VASP) license in Hong Kong. The exchange suspended operations in the region on May 31, without giving a specific reason for this action. This decision came as a surprise considering Hong Kong’s reputation as a rapidly growing hub for cryptocurrency companies.

According to data from CoinMarketCap, OKX boasts a 24-hour trading volume of $2.7 billion and receives nearly 5.9 million visits each week. The total assets managed by OKX amount to $18.8 billion, of which Bitcoin (BTC) accounts for the largest portion at 46.2%, amounting to $8.69 billion.

Cryptocurrency exchange service and Web3 Wallet are launched in the Netherlands 🇳🇱
✔ Spot trading and conversion services
✔ +150 Cryptocurrency
✔ +60 Crypto-Euro pairs@EraldOnChain Here’s why this is an important step within our local community: https://t.co/ggJWvhRCJn pic.twitter.com/TciKvUg2Nb
— OKX (@okx) June 3, 2024

OKX’s rebranding and global growth plans

OKX, formerly known as Okcoin Europe Ltd., has changed its name and brand to better align with its new and growing range of services. Announced on April 10, the rebrand demonstrates the company’s plans to become a larger player in the global cryptocurrency market. The change from Okcoin to OKX means that the company now offers more than just centralized exchange (CEX) services. The new web3 wallet also includes decentralized finance (DeFi) options. These changes highlight the brand’s focus on providing innovative and diverse cryptocurrency services to meet the diverse needs of users.

The new name and service launched in the Netherlands marks a significant step forward in OKX’s growth in Europe and provides Dutch users with a better way to trade and manage their cryptocurrencies. But OKX isn’t just expanding in Europe. The company is also seeking opportunities to grow in other international markets to better serve its users around the world. OKX aims to become a leader in the cryptocurrency industry through rebranding and launching new products, following local rules and providing solutions tailored to the needs of each region. This global initiative demonstrates OKX’s commitment to growing and remaining innovative to become a key player in the rapidly changing world of digital assets.

Applying Alpha to Global 🤝 Local Vision.
✔ Get closer to your customers
✔ Compliance
✔ Long-term investment in the region
If you are not optimistic #OKXYou’re not paying attention. pic.twitter.com/axZny15nNR
— OKX (@okx) June 9, 2024

99Bitcoins: ERC-20 based platform with monetization mechanism

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Recently, 99Bitcoins introduced a new feature to the Web3 space by leveraging an ERC-20 token called 99BTC, which it plans to convert to BRC-20. The project aims to reward users for learning about cryptocurrencies by incorporating a Learn-To-Ener (L2E) mechanism to encourage education.

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