Cryptocurrency exchange OKX has announced its expansion into Argentina as part of its ongoing strategy to target the Latin American market. The move follows its launch in Brazil in late 2023.
In a recent statement, OKX announced that Argentinian users will be able to access OKX’s crypto exchange platform, along with a self-custody wallet and the ability to trade non-fungible tokens (NFTs).
Argentina ranks 15th on Chainalysis’ global crypto adoption index, a metric that assesses on-chain and real-world data to measure which nations are at the forefront of crypto adoption. Meanwhile, Brazil ranks 9th.
We’re thrilled to announce the official launch of our exchange and Web3 Wallet in Argentina!
— OKX (@okx) February 7, 2024
The announcement comes approximately nine months after competitor crypto exchange Binance launched exchange services in Argentina.
In April 2023, Maximiliano Hinz, director for Binance in the Southern Cone told Reuters that the expansion decision was due to the growing demand for crypto services in Argentina.
“This launch has to do with the public demand that exists here,” Hinz stated.
Meanwhile, OKX president Hong Fang emphasized Argentina’s significant growth in crypto adoption in recent times
“We are delighted to officially launch the latest expansion of our world-class exchange and Web3 wallet in one of the most vibrant cryptocurrency markets in Latin America.”