Crypto exchange OKX introduces crypto exchange and Web3 wallet services in the Netherlands, reclaiming the market share that Binance has lost.
OKX, the third-largest cryptocurrency exchange and a competitor to Binance, announced Monday that it has expanded to the Netherlands.
OKX will provide a crypto exchange and Web3 wallet services in the country, granting consumers the ability to trade more than 150 cryptocurrencies.
Following Binance’s exit from the Netherlands, OKX will seize a portion of the market share that Binance lost the previous year.
Until July 3, the cryptocurrency exchange is also offering a 50 Euro welcome incentive to new users.
OKX Expands to the Netherlands
On June 3, OKX formally introduced its centralized cryptocurrency exchange and OKX Wallet in the Netherlands, as stated in a press release.
It provides spot (buy and sell) and conversion services for over 150 cryptocurrencies, including over 60 crypto-Euro pairs, for Dutch clients.
Additionally, Web3 functionalities and Euro deposits and withdrawals will be accessible through the OKX Wallet in the Netherlands.
The Web3 wallet grants users complete control over their cryptocurrency assets.
Additionally, OKX has partnered with iDEAL, an online payment system based in the Netherlands, to allow users to deposit funds to their accounts instantaneously and at no cost.
Users can also perform deposits and withdrawals via Single Euro Payments Area (SEPA) for free.
“We’ve hired an expert local team led by our Benelux Regional Manager Roy van Krimpen and taken the local feedback very seriously as we’ve designed our product here, said OKX Europe General Manager Erald Ghoos.
Binance’s Exit From the Netherlands
According to a report, Binance, the world’s largest crypto exchange, withdrew from the Dutch market in June last year due to its failure to fulfill the registration requirements to operate as a virtual asset service provider (VASP) in the nation.
Since Binance’s exit, numerous cryptocurrency exchanges have seized the majority of the market share on the Dutch cryptocurrency market.
However, Binance continued to collaborate with authorities.
Binance recently assisted Dutch authorities in May in exposing a $30 million online fraud associated with ZKasino. Binance is proud to have supported Dutch authorities in the investigation of a gambling exit scam. Our Investigations team helped lead the recovery of millions of euros.”
