Global cryptocurrency exchange OKX has officially launched its trading platform and a new Web3 self-custody wallet in Brazil. In partnership with BTG Pactual Bank, the platform now supports the Pix payment system, enabling users to convert cryptocurrencies directly into Brazilian Real.
The OKX platform now offers staking services, and its integrated wallet provides access to decentralized finance (DeFi) protocols, decentralized applications (DApps), and non-fungible tokens (NFTs). It is the first wallet globally to combine Multi-Party Computation (MPC) and Account Abstraction (AA) technologies, making it more user-friendly for non-technical audiences.
OKX President Hong Fang expressed excitement about entering the Brazilian market, emphasizing that Brazil represents the largest cryptocurrency market in Latin America.
Services and Features for Brazilian Users
Brazilian users can now access a full suite of cryptocurrency trading and Web3 tools directly through OKX. The platform supports deposits and withdrawals in Brazilian Real via the widely-used Pix payment network. This allows for faster and more convenient transactions for local traders.
The OKX Wallet supports a wide range of digital assets and blockchains. Users can securely store, send, and receive cryptocurrencies, interact with thousands of DApps, and explore NFT marketplaces—all from a single application.
The integration of MPC technology eliminates the need for users to manage complex seed phrases, while AA improves transaction efficiency and simplifies the user experience on blockchain networks.
Commitment to Security and Transparency
Security and transparency are central to OKX’s offering in Brazil. The platform uses advanced cryptographic methods to ensure user funds are protected. A key feature is its monthly published Proof of Reserves (PoR) report, which uses zk-STARKs technology for verification.
Recent research commissioned by OKX Brazil indicates that security is a top priority for local cryptocurrency users. The study found that:
- 92% of respondents want clear and transparent information about the safety of their investments.
- 86% believe that Proof of Reserves contributes to the legitimacy and maturation of the crypto market.
OKX’s latest PoR report shows $12.5 billion in primary assets held in reserve, with a user asset ratio of 103%.
Leadership Perspectives on the Brazilian Market
Guilherme Sacamone, General Manager of OKX Brazil, stated that the company is focused on delivering a comprehensive platform that combines global technology with local needs.
“We understand that Brazilian users expect fast, liquid trading experiences and a trusted, secure wallet solution—all integrated into one app,” Sacamone explained. “Our commitment to transparency through Proof of Reserves provides industry-leading security assurances.”
Hong Fang added, “Our exchange now supports the Brazilian Real and offers the depth of liquidity, tools, security, and transparency that local traders demand. We look forward to fostering innovation in the Web3 and crypto economy as the Brazilian market continues to mature.”
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Frequently Asked Questions
What payment methods are available for Brazilian OKX users?
Brazilian users can deposit and withdraw Brazilian Real using the Pix payment system, which is integrated into the OKX platform through a partnership with BTG Pactual Bank. This allows for efficient conversion between crypto and local currency.
How does OKX ensure the security of user funds?
OKX employs a multi-layered security approach, including cold storage for assets and monthly Proof of Reserves (PoR) reports. These reports, verified with zk-STARKs technology, cryptographically prove that user funds are fully backed.
What is unique about the OKX Web3 Wallet?
The OKX Wallet is the first to integrate both Multi-Party Computation (MPC) and Account Abstraction (AA). This eliminates the traditional seed phrase vulnerability and simplifies blockchain interactions, making it easier for beginners to navigate Web3.
Can I trade NFTs on OKX?
Yes, the OKX Wallet provides integrated access to multiple NFT marketplaces. Users can view, buy, sell, and manage their NFT collections directly within the wallet interface.
What is Proof of Reserves and why is it important?
Proof of Reserves is an independent audit that verifies a cryptocurrency exchange holds enough assets to cover all user balances. It is crucial for promoting transparency and trust in the crypto ecosystem by proving solvency.
Does OKX offer staking services in Brazil?
Yes, Brazilian users can access staking services directly on the OKX platform, allowing them to earn rewards on their cryptocurrency holdings.