OKX Expands Crypto Services to Belgium with Exchange and Self-Custodial Wallet Solutions, Backed by MFSA

OKX, one of the world’s leading cryptocurrency exchanges, has officially launched its crypto trading platform and self-custodial wallet in Belgium, further expanding its European presence. The announcement, made on November 26, 2024, marks a major step forward in OKX’s mission to bring secure, innovative, and user-friendly crypto solutions to new markets across Europe.

Through this launch, OKX now offers Belgian residents the ability to access spot trading and exchange a wide variety of cryptocurrencies, including more than 200 digital assets and 60 trading pairs integrated with the euro. This move is part of OKX's ongoing efforts to meet the growing demand for cryptocurrency services in Europe, catering to users who prioritize both security and regulatory compliance in their digital asset investments.

Crypto Services Tailored to Belgian Users

The newly available services are designed to meet the unique needs of Belgian cryptocurrency traders. OKX’s spot trading platform allows users to trade a comprehensive selection of digital assets and offers seamless integration with the euro, making it easier for Belgian investors to access the growing cryptocurrency market. The platform is fully supported by Okcoin Europe, a Malta-based subsidiary of OKX that is licensed as a Virtual Financial Assets Service Provider (VFA) by the Malta Financial Services Authority (MFSA), a reputable regulator in the European Union.

However, OKX clarified that, while the exchange is licensed and regulated in Malta, the launch in Belgium does not reflect direct approval from Belgian regulatory authorities. Erald Ghoos, OKX’s General Manager for Europe, emphasized that the company is operating under a “non-rejection” status in Belgium. This means that while OKX is not physically based in Belgium, it is able to offer its services to Belgian users through a regulated EU entity, ensuring that the platform adheres to the regulatory requirements of the region.

Seamless Euro Transactions for Belgian Users

In order to streamline the trading experience for Belgian users, OKX has partnered with Bancontact, one of the country’s leading payment processors. This collaboration enables instant, fee-free euro deposits into the platform, allowing users to quickly fund their accounts and begin trading. The platform also supports deposits and withdrawals through the Single Euro Payments Area (SEPA), making it even easier for Belgian users to engage in cross-border transactions within the European Union.

To access trading services, Belgian users will need to verify their identities through the Itsme identification app, a secure and widely-used tool in Belgium for digital identification and authentication. This verification process ensures that OKX complies with anti-money laundering (AML) and know-your-customer (KYC) regulations, fostering a safe and compliant environment for investors.

Increasing Demand for Cryptocurrency in Belgium

Belgium has seen a steady rise in cryptocurrency adoption, and OKX is poised to tap into this growing market. According to data from Statista, approximately 25% of Belgian residents are expected to use cryptocurrency by 2024, with projections suggesting that this figure could rise to 28% by 2028. OKX's expansion into Belgium comes at a time when cryptocurrency is becoming increasingly mainstream, with more investors looking for secure, reliable platforms to trade and manage their digital assets.

OKX has acknowledged that Belgian investors are highly focused on security and trust when it comes to choosing a cryptocurrency platform. This is why OKX has placed a strong emphasis on compliance with local regulations, user privacy, and platform security, providing customers with peace of mind as they engage in the evolving crypto market. By offering easy-to-use solutions for spot trading, staking, and wallet management, OKX is positioning itself as a key player in the Belgian cryptocurrency market, catering to both beginner and seasoned traders.

Building on a Strong Foundation for the Future

The launch of OKX Exchange and OKX Wallet in Belgium is just the latest move in the company’s broader strategy to expand its footprint across Europe. With its reputation for providing a comprehensive suite of crypto services, OKX is well-positioned to take advantage of the growing demand for cryptocurrency in Belgium and beyond. The platform’s offerings extend far beyond simple trading, also including features such as staking, yield generation, and access to a wide range of digital assets, providing Belgian users with a full suite of tools to navigate the crypto space.

OKX’s expansion into Belgium also aligns with the growing trend of increased regulatory clarity and mainstream adoption of cryptocurrency across Europe. As countries within the EU develop more comprehensive frameworks for digital assets, OKX’s regulatory compliance and transparent operations ensure that it remains a trusted partner for users looking to invest in cryptocurrencies. This commitment to compliance is key to the platform’s ability to serve users in diverse markets, giving them confidence in the security and legitimacy of their investments.

Conclusion

With its successful launch in Belgium, OKX is taking a significant step towards becoming a dominant force in the European cryptocurrency market. Offering a robust, secure, and user-friendly platform for spot trading, euro-based transactions, and self-custodial wallet management, OKX is catering to the growing demand for cryptocurrency services in Belgium. As the Belgian crypto market continues to evolve, OKX’s commitment to compliance, security, and customer satisfaction positions it as a leading platform for both novice and experienced investors alike.

By providing Belgian users with a seamless and secure gateway to the world of cryptocurrency, OKX is not only helping to expand the reach of digital assets but also paving the way for future growth and innovation in the European crypto space. With strong backing from the Malta Financial Services Authority and ongoing partnerships with local payment processors, OKX is set to play a major role in Belgium’s crypto landscape for years to come.