OKX rebrands and launches crypto exchange, wallet in the Netherlands

OKX, one of the largest centralized exchanges (CEX) by trading volume, 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 more than 150 cryptocurrencies and 60 crypto-euro trading pairs. 

Notably, the exchange rebranded from Okcoin Europe Ltd. to OKX on April 10.

Per the announcement, OKX teamed up with the local online payments company iDEAL to allow its Dutch users to easily deposit and withdraw funds from their accounts. Moreover, users can also use the Single Euro Payments Area (SEPA) for free euro deposits and withdrawals.

In addition to the CEX platform, OKX also launched a self-custodial web3 wallet, called OKX Wallet, for its Dutch users. The OKX Europe general manager Erald Ghoos said that the wallet and the exchange have been carefully crafted by a team of experts after reviewing customer feedback.

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

On May 24, OKX withdrew its application for the Virtual Asset Service Provider (VASP) license in Hong Kong. The exchange halted operations in the region on May 31. However, OKX did not explain the main reason behind leaving one of the fastest-growing cities for crypto companies. 

According to data provided by CoinMarketCap, OKX has a 24-hour trading volume of $2.7 billion with almost 5.9 million weekly visits. The total assets under its management reach $18.8 billion with Bitcoin (BTC) having the largest share of 46.2%, worth $8.69 billion.