Today, we've officially launched our crypto exchange and Web3 wallet platform in Brazil, providing Brazilian crypto users with a trusted, secure gateway to decentralized finance (DeFi) and crypto trading. With our launch in Brazil, users can now also access Brazilian Real fiat-on ramp capabilities.
Our exchange offers Brazilian users a powerful platform to trade multiple major cryptocurrencies and provides users with advanced crypto features including staking rewards and DeFi integrations.
Also available on the platform is OKX Wallet, our non-custodial Web3 wallet that provides access to a user-friendly, secure self-custody portal to access and manage DeFi, trade NFTs, use dApps, and more. It's the first wallet to feature both Multi-Party Computation (MPC) technology and Account Abstraction (AA) features, which paves the way for wider adoption among less technical users.
Our President, Hong Fang, said: "We're excited to officially launch our localized platform and services in Brazil, which represents the largest cryptocurrency market in Latin America. Our exchange now offers BRL rails, deep liquidity, tools, security and transparency that Brazilian traders want. Our OKX Wallet provides simplified access to DeFi, NFTs, dApps and more. We look forward to driving innovation and growth of the Web3 and crypto economy with millions of users as the market matures in Brazil."
A recent study commissioned by OKX Brazil of both crypto and non-crypto users found that security is currently a top concern for crypto users in Brazil. A vast majority of 92% of respondents expressed a need for clear and transparent information about the security of their investments, and 86% agreed that Proof-of-Reserves (PoR) can positively contribute to the legitimacy and maturity of the cryptocurrency market.
We're proud to lead the industry in security with monthly, on-chain Proof-of-Reserves reports verified via zk-STARKs cryptography, with the latest report showing 12.5 billion in primary assets backing user assets by 103%
Our Brazil General Manager Guilherme Sacamone said: "OKX is committed to helping Brazil realize its enormous potential as a cryptocurrency and Web3 leader in global decentralized finance. As a result, we delivered a comprehensive platform that merges world-class crypto excellence with user experience specifically tailored for the Brazilian market. We know Brazilians expect fast, liquid trading and a safe custodial wallet solution they can trust, all in one application. Given the results of our recent survey, we also recognize that security and transparency are major priorities for Brazilian crypto users. OKX delivers this with best-in-class security features, such as our leading monthly PoR."
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