when

Crypto exchange OKX is <a href="https://www.tradingview.com/news/cointelegraph:4ac07aaea094b:0-okx-launches-crypto-trading-platform-and-wallet-in-belgium/">expanding</a> its operations as it launched a self-custodial wallet and a trading platform in Belgium. 
As of November 26, the crypto exchange has enhanced its European services by officially opening OKX Wallet and OKX Exchange to customers in Belgium. 
This will help Belgium crypto users in accessing spot trading on the OKX platform. They can also utilise other features of the crypto exchange like converting over 200 cryptos including 60 trading pairs used in trading against the euro. 
The Belgian services of the crypto exchange are being offered from an EU-regulated entity. However, OKX hasn't got a direct regulatory approval from Belgian authorities. 
The OKX General Manager of Europe, Erald Ghoos said: “We have no regulatory approval, only a non-rejection for our activity in Belgium”. 
Ghoos further underlined that OKX is offering their services from “a regulated entity within the EU, without any permanent establishment in Belgium”. 
This is happening through a Malta-registered company called Okcoin Europe which is licensed by the Malta Financial Services Authority as a Virtual Financial Assets Service Provider. 
Bancontact, the Belgian payment system is the one that has enabled euro withdrawals and deposits. This will help the crypto exchange’s Belgian users to instantly deposit euros into their accounts free of charge. 
Not only that, the OKX crypto platform is also offering cashless withdrawals and deposits through Single Euro Payments Area, a cashless payment system of Europe. 
Traders can get access to the platform and can trade in the platform when complete verification is done through the Itsme identification app. Nearly a quarter of the 11.8 million Belgian population have crypto exposure. 
“Belgian investors are generally conservative, prioritizing trust and security in their financial decisions,” revealed Ghoos. He further added that they favour stable investment options and are cautious about risks. 
Statista data shows user penetration is estimated to reach 25% in 2024. By 2028, it's likely to hit 28% 
Earlier in March this year, Belgium made it mandatory for crypto advertisements to display clear warning signs, as per what Amitabha Bachchan said. 
“This initiative aims to enhance consumer awareness and protect potential investors from misleading promotions,” he said. 
This launch was a strategic plan to expand its European presence Earlier in June this year, OKX announced that its platform is getting its own EU regulatory hub in Malta as the exchange provided them with its Class 4 Virtual Financial Assets (VFA) Service Provider license in 2021.

OKX Enters Belgium Market with New Wallet, Trading Services

Yellow News

Other articles published on Nov 26, 2024

Balance.fun Key Nodes Secure Over $10 Million in Institutional Investment, Following its $30 Mill...

Bets.io – one of the most wonderful and safe online crypto-casinos

Investors Maintain Confidence in Bitcoin and Ethereum ETFs

Domo AI: Your Ultimate Guide to Anime, Apps, and Discord Integration

WisdomTree Physical XRP ETP Goes Live. Here’s the Significance

Crypto Fear & Greed Index Drops to 79, Remains in ‘Extreme Greed’ Zone

Join our free newsletter for daily crypto updates!