Crypto exchange OKX is planning on an expansion spree in Belgium as it unveils its new services in the region. On November 26th, the platform launched a trading platform and self-custodial wallet in Belgium.
The addition of services comes as a part of the crypto exchange’s expansion plans in the European market. The efforts come as Belgium and the entire European region are trying to accelerate their crypto operations, making the services more alluring for customers in the region.
OKX Adds Wallet Feature For Belgian Customers
On November 26th, OKX unveiled that its Exchange and OKX Wallet services are formally available to Belgian consumers.
Customers in Belgium may now access spot trading and convert over 200 cryptocurrencies, including 60 trading pairs that feature cryptocurrency trading against the euro, thanks to newly released services from OKX.
Additionally, the launch does not involve formal regulatory permission from Belgian authorities.
OKX New Services Come As Belgium Experiences Rise in Crypto Adoption
Belgium has been trying to accelerate its crypto adoption for the past couple of years, being in tandem with the entire European Union. At present, Belgium’s cryptocurrency business is expected to generate US$257.1 million by 2024.
According to estimates, the cryptocurrency sector in the nation will generate an average of $70.6 per user by 2024. The United States will lead the world in cryptocurrency revenue, with US$9.8 billion in 2024, according to global comparisons.
According to researchers, it is expected that there will be 3.66 million people using cryptocurrencies in Belgium by 2025. Similarly, by 2024 end, the user penetration rate is anticipated to be 31.09%, and by 2025, it is anticipated to reach 31.17%.
Belgium’s cryptocurrency business is booming as a result of the nation’s encouragement of digital innovation and its legal framework.
OKX’s Other Expansion Plans
OKX has been going on a global expansion spree recently. The crypto exchange launched a “Zero Fee SGD-Based Crypto Fund Transfer“.
According to the new services, for its Singaporean customers, OKX has implemented immediate, fee-free deposits and withdrawals in Singapore dollars.
The platform will use PayNow and Fast and Secure Transfers (FAST) payment systems to enable its users in Singapore to make fast, fee-free SGD deposits and withdrawals.
In order to provide fund transfer services, OKX has also established a cooperation with DBS, the largest bank in Southeast Asia by assets. Through the agreement, PayNow will also support the new services on the platform.