OKX, a leading centralized exchange (CEX) renowned for its robust trading volume, has made a significant move by launching its exchange platform and web3 wallet services in the Netherlands. The announcement, made on June 3 via X, marks a strategic expansion for OKX into one of Europe's burgeoning crypto markets.

With the launch, OKX is set to offer support for over 150 cryptocurrencies and an impressive array of 60 crypto-euro trading pairs. This move comes on the heels of the exchange's rebranding from Okcoin Europe Ltd. to OKX, signifying its renewed commitment to providing innovative and comprehensive crypto services.

Partnering with the prominent local online payments company iDEAL, OKX aims to facilitate seamless deposit and withdrawal processes for its Dutch users. Additionally, users can leverage the Single Euro Payments Area (SEPA) for convenient and cost-effective euro transactions on the platform.

In tandem with its centralized exchange platform, OKX has introduced the OKX Wallet, a self-custodial web3 wallet designed to empower users with greater control over their digital assets. Erald Ghoos, OKX Europe's general manager, emphasized that both the exchange and wallet have been meticulously developed based on customer feedback and insights, ensuring a user-centric approach to service delivery.

Highlighting OKX's commitment to regulatory compliance, Ghoos stated that the exchange holds a crypto service provider registration with De Nederlandsche Bank (DNB) and a virtual financial asset service provider license in Malta, underscoring its dedication to upholding industry standards and regulatory requirements.

Meanwhile, OKX recently made headlines by withdrawing its application for the Virtual Asset Service Provider (VASP) license in Hong Kong and ceasing operations in the region. While the precise reasons behind this decision remain undisclosed, OKX continues to strengthen its presence in other strategic markets, including the Netherlands.

With a formidable 24-hour trading volume of $2.7 billion and nearly 5.9 million weekly visits, OKX boasts total assets under management amounting to $18.8 billion. Bitcoin (BTC) stands out as the dominant asset on the platform, comprising 46.2% of the total assets under management, valued at $8.69 billion.

As OKX forges ahead with its expansion initiatives and product offerings, it reaffirms its position as a pioneering force in the global cryptocurrency landscape, catering to the evolving needs of users and fostering greater adoption of digital assets worldwide.