OKX Launches Crypto Exchange and Wallet in the Netherlands

OKX, one of the leading centralized exchanges (CEX) by trading volume, has announced the launch of its CEX and a Web3 wallet in the Netherlands.

On June 3, the exchange shared on X that it will support over 150 cryptocurrencies and 60 crypto-euro trading pairs. The rebranding from Okcoin Europe Ltd. to OKX, effective April 10, marks a significant transformation for the company.

In its announcement, OKX revealed a partnership with the local online payments company iDEAL, facilitating seamless deposits and withdrawals for Dutch users. Additionally, users can leverage the Single Euro Payments Area (SEPA) for free euro deposits and withdrawals.

Complementing the CEX platform, OKX has introduced a self-custodial Web3 wallet, known as OKX Wallet, tailored for its Dutch clientele. Erald Ghoos, General Manager of OKX Europe, emphasized that the wallet and exchange were meticulously developed by a team of experts, incorporating customer feedback.

Ghoos highlighted that OKX holds a crypto service provider registration with De Nederlandsche Bank (DNB) and a virtual financial asset service provider license in Malta.

Conversely, on May 24, OKX withdrew its application for the Virtual Asset Service Provider (VASP) license in Hong Kong, subsequently ceasing operations in the region on May 31. The exchange has not disclosed the reasons for exiting one of the fastest-growing hubs for crypto enterprises.

Data from CoinMarketCap indicates that OKX boasts a 24-hour trading volume of $2.7 billion, with nearly 5.9 million weekly visits. The total assets under its management amount to $18.8 billion, with Bitcoin (BTC) comprising the largest share at 46.2%, valued at $8.69 billion.

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