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OKX Launches Trading and Wallet Services in Belgium

Market Musing-g

OKX Launches Trading and Wallet Services in Belgium

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By TheCoinrise Media

4 months ago

•

3 mins read

OKX Launches Trading and Wallet Services in Belgium

OKX Expansion to Belgium Brings Lots of Benefits
OKX Expansion and Global Outreach
Robinhood Expands Crypto Capabilities in Europe

OKX, an A-list crypto exchange by trading volume, is expanding in Europe. According to an announcement, the exchange has launched a crypto trading platform and a self-custodial wallet for users in Belgium. This new service allows Belgian residents to access various crypto services, helping OKX strengthen its presence in the European digital asset market.

OKX Expansion to Belgium Brings Lots of Benefits

This platform also allows Belgian customers to trade and convert over 200 cryptocurrencies, including 60 trading pairs with the euro. This wide range of options will appeal to experienced traders and those new to cryptocurrency. However, the launch is yet to get direct approval from Belgian authorities.

Instead, OKX operates in Belgium with a non-rejection status, using its Malta-registered entity, Okcoin Europe, licensed by the Malta Financial Services Authority (MFSA). Meanwhile, OKX has added Bancontact, a popular payment system in Belgium, to make euro transactions easier. Customers can also use SEPA (Single Euro Payments Area) for more options to deposit and withdraw money, ensuring smooth and efficient transactions.

The onboarding process for Belgium users is now easier through the Itsme app, a trusted digital ID tool. Furthermore, the new self-custodial wallet gives Belgian users better control over their digital assets while prioritizing security and transparency. This change meets the increasing demand for decentralized financial solutions in Europe.

OKX Expansion and Global Outreach

Recall that, the Web3 technology company launched its centralized crypto exchange and OKX wallet in the Netherlands in June. Likewise, in February, OKX launched crypto exchange services and its Web3 wallet in Argentina, marking a strategic move to capitalize on the region’s increasing interest in crypto and blockchain technology.

Similarly, in January, OKX obtained a Virtual Asset Service Provider (VASP) license in Dubai, signaling its commitment to serving the Middle Eastern market and a clear expansion strategy across different clients.

Robinhood Expands Crypto Capabilities in Europe

Retail investing platform Robinhood has expanded its crypto offerings in Europe. European users can now transfer cryptocurrencies in and out of the platform. The platform also affirmed that EU customers can deposit and withdraw over 20 digital currencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and USD Coin.

The functionality allows users to “self-custody” their assets, meaning they can manage their wallets instead of relying on third-party custodians.

Robinhood’s expansion comes on the heels of the EU’s efforts to standardize cryptocurrency regulations across its member states. Robinhood offered a limited-time promotion for European customers, as part of the rollout. Users will receive 1% of the value of any crypto they deposit on the platform.