Crypto Exchange OKX Launches in the Netherlands After Binance’s Exit

OKX, the third-largest crypto exchange and Binance’s competitor, on Monday said it has expanded to the Netherlands. OKX will offer crypto exchange and Web3 wallet services in the country, offering users access to trade over 150 cryptocurrencies.

With Binance out of the Netherlands, OKX will capitalize on taking part of the market share lost by Binance last year. The crypto exchange has even introduced a 50 Euro welcome bonus for signups until July 3.

OKX Expands to the Netherlands

According to a press release on June 3, OKX has officially launched its centralized crypto exchange and OKX Wallet in the Netherlands.

It enables Dutch customers to do spot (buy & sell) trading, as well as convert services, for over 150 crypto including more than 60 crypto-Euro pairs. OKX will also offer Euro deposits and withdrawals and Web3 features via the OKX Wallet in the Netherlands.

The Web3 wallet allows customers to full custody of their crypto holdings. OKX has also integrated with Netherlands’s online payment system iDEAL to enable users instantly deposit funds to their accounts free-of-charge. 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.

Also Read: Binance Delisting & Ceasing Support of These Crypto, Prices Tank 25%

Binance’s Exit From the Netherlands

CoinGape reported that Binance, the world’s largest crypto exchange, exited the Dutch market in June last year because failed to meet registration requirements to operate as a virtual asset service provider (VASP) in the country.

Since Binance’s exit, the Dutch crypto market saw many crypto exchanges taking the dominant market share. However, Binance continued to work with authorities.

Recently in May, Binance helped Dutch authorities expose $30 million online scam related to 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.”

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