OKX Introduces New Crypto Exchange and Web3 Wallet in the Netherlands

OKX Introduces New Crypto Exchange and Web3 Wallet in the Netherlands

Good news for cryptocurrency investors hailing from the Netherlands has come from the OKX exchange. The trading platform has decided to extend its suite of services for investors hailing from the Netherlands.

On this account, the firm has now acquired an official registration from the Dutch Central Banking Authority. It is important to note that the platform has been offering trading services in the region since 2021 but it only registered recently.

The global exchange platform has now become an officially regulated platform in the Netherlands. Following the acquisition of the regulatory certificate, the firm has introduced a new local exchange and Web 3.0 wallet service.

OKX Allows Users to Access 150 Tokens

The firm first announced a centralized exchange and custodian feature in June 2024. The regulatory status allows consumers in the Netherlands to access a total of 150 tokens. The platform has also listed approximately 60 trading pairs with euro.

OKX has also partnered with the local transaction processing channel called iDeal to offer resistance-free euro deposits and withdrawals. This partnership enables OKX consumers to add euro to their trading accounts without any additional fee or charge.

AI Trading Robot

The OKX euro account funding feature is also available for all investors within the EU region under the name of Single Euro Payments Area or SEPA.

OKX Starts Offering Retail Trading, Staking and Custodial Services

The natives of the Netherlands will be able to access spot trading services on OKX in addition to features such as staking and custodial options. The OKX wallet allows investors to maintain absolute ownership of their funds as per the latest notification issued by the firm.

OKX General Manager, Erald Ghoos, noted that the launch of centralized exchange and wallet is an important milestone in the long-term commitment to the Netherlands.

The executive further stated that the firm has also recruited human resource native to the region and designed a detailed strategy to launch localized products based on user feedback.

As per Ghoos, before the registration, the firm was operating as a crypto services provider working in tandem with the Central Bank of the Netherlands. After the registration, new users hailing from the Netherlands can signup at OKX via their official website.

Another option is to download the OKX app from the Google Play store. New users on the platform can earn a sign-up bonus of up to 50 euros or $54 before 3rd July 2024.

The registration of OKX has expanded the platform in the EU region. On 24th May 2024, OKX finalized withdrawing a registration application from Hong Kong with other exchanges such as Huobi and Gate.io.

Meta Faces Criticism in Europe for Unauthorized User Data Usage

Meta has recently changed its terms of user policy. The changes will allow the firm to access years of user data such as posts and images from their users to train the local AI model. On this account, the platform received a total of 11 complaints regarding its user data access without obtaining consent from users.

A private advocacy group called NOYB addressed the EU regulators on the matter. The complainants hailed from various European nations such as Ireland, Italy, Belgium, Germany, Greece, Spain, Poland, Norway, France, Netherlands, and Austria.

The complaint noticed that the new service in question will allow the firm to access years of backlogs from users such as private posts, messages, and images to train the AI program.

The contract changes will also allow Meta to share the user data with third-party firms. These changes can affect millions of Meta users based in Europe. On this manner, the users may be unable to remove their data or account details after adding it once in the system.

NOYB has filed a number of complaints against multiple tech firms over the years citing purported the violation of General Data Protection Regulations. In case of a guilty verdict, the alleged firms can face a fine of up to 4% of their global revenue.

Transform your trading with the intelligence of Finance Phantom. Sign up today and let AI guide your crypto investments.

A Detailed Guide to Understanding the Bridge to zkSync Previous post A Detailed Guide to Understanding the Bridge to zkSync
Trading Volume on Centralized Exchanges Plunged to $5.2T in May Next post Trading Volume on Centralized Exchanges Plunged to $5.2T in May