OKX expands into Latin America

 

Company

OKX

 

Industry

Fintech, Exchange

Country/Region

Latin America

 

About OKX

 

OKX is a world-leading cryptocurrency spot and derivatives exchange offering the most diverse marketplace for global crypto traders, miners, and institutional investors to manage crypto assets, enhance investment opportunities, and hedge risks. It provides spot and derivatives trading — including futures, perpetual swaps, and options — of major cryptocurrencies, offering investors flexibility in formulating strategies to maximize gains and mitigate risks.

 

The Market: Latin America’s unbanked population

Since the world economy has been suffering from setbacks for some time, people have begun reflecting on the problems in the existing financial system — among which the unbanked has become an unavoidable topic.

 
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About 2 billion adults worldwide do not have bank accounts, and Latin Americans make up a large percentage of them. Be that as it may, thanks to its intermediary-free nature, cryptocurrency has begun to play an increasingly important role in financial services.

 

A speed-to-market solution: Latamex’s Checkout Integration

For most people, the first step to enjoying blockchain-driven financial services is to convert local currencies to cryptocurrencies. OKX already supported a vast number of fiat currencies worldwide and needed a local Latam partner to expand their business into Latam. OKX users will enjoy a much-improved experience in crypto-to-fiat trading and payment processing through bank transfers.

 
“One of the important goals of OKEx is to enable everyone to enjoy intermediary-free financial services by promoting the blockchain-driven economy. For that, it's essential to lower the threshold for the exchange between cryptocurrencies and fiat currencies in order to cover users in more countries and regions. The cooperation with Latamex is of strategic significance to OKX. Latin American users can now purchase BTC and ETH with multiple local currencies in a compliant way through bank transfers. In the future, OKX will continue to expand the coverage of fiat currencies to allow more users to purchase cryptocurrencies more conveniently,” said Jay Hao, CEO of OKX.

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Source: https://www.bitcoin.com.mx/