Key Insights
- OKX has launched its cryptocurrency exchange and wallet in Belgium, offering spot trading for over 200 cryptocurrencies with 60 euro trading pairs.
- The platform operates through a Malta-regulated entity, partnering with Bancontact for euro deposits and using the Itsme identification app for user verification.
BRUSSELS (MarketsXplora) – Cryptocurrency exchange OKX has launched its trading platform and self-custodial wallet in Belgium, offering local investors access to over 200 cryptocurrencies with 60 euro-based trading pairs.
The expansion comes through Okcoin Europe, a Malta-registered company licensed by the Malta Financial Services Authority, operating without direct Belgian regulatory approval. Erald Ghoos, OKX’s European general manager, confirmed the launch is based on a “non-rejection” status for their activities.
OKX has partnered with Bancontact, Belgium’s prominent payment system, to enable free euro deposits and withdrawals. Belgian residents can access the platform by completing verification through the Itsme identification app.
“Belgian investors are generally conservative, prioritizing trust and security in their financial decisions,” Ghoos told MarketsXplora. The country’s crypto user penetration is estimated at 25%, projected to reach 28% by 2028.
The launch follows recent regulatory developments, including a March 2024 mandate requiring cryptocurrency advertisements to include clear risk warnings. This initiative aims to enhance consumer awareness and protect potential investors.
OKX’s Belgian market entry is part of its broader European expansion strategy, following recent launches in the Netherlands and the establishment of an EU regulatory hub in Malta.
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