Ok x Announces Compliance-Focused Expansion to Brazil Okx, one of the largest cryptocurrency exchanges in the market, has announced that it
will expand to the Brazilian market in the coming months. The exchange chose Brazil as an entry doorstep
for Latam due to the size of the local market, and to be well positioned before the new
“summer of crypto assets,” Okx Executive President Hong Fang told Valor Economico.
Fang values Latam
as a region that appreciates crypto in a different light, given that several countries have a large crypto adoption index that includes
using these tools for purposes other than speculation, including inflation hedging and savings.
Fang clarified that Okx wants to adhere to the local cryptocurrency laws immediately after the regulation is complete. However, other aspects are also significant, to satisfy Brazilian customers.
She declared: Compliance and adherence to regulations have been a determining factor in competition, but also the user experience and what the consumer wants in terms of products, services and technology. Okx’s focus on adherence to laws and regulations is not new. The exchange has been expanding its compliance approach in several countries.
In 2023, Okx announced it was opening an office in Australia, applied for regulatory approval in France, and obtained a minimum viable product (MVP) preparatory license from Dubai regulators.
