OKX has established a new dedicated entity for its Brazilian users, OKX SERVIÇOS DIGITAIS LTDA. This local platform is designed specifically to serve residents of Brazil, offering full local customer support and the ability to deposit and withdraw funds in Brazilian Real (BRL), making digital asset management smoother and more convenient.
To ensure a seamless transition to this new local entity, all users must take several important steps regarding their account holdings and settings. This guide provides a clear overview of the necessary actions and the implications of the migration.
Essential Pre-Migration Actions for Users
As part of this migration, it is crucial that users only hold tokens that are available on the local Brazilian platform. If your account currently contains tokens that are not supported locally, you must take action before the migration date specified in the official communication sent to your registered email address.
You have two primary options for dealing with any unsupported tokens:
- Convert the unavailable token into a token that is available on the local Brazilian platform.
- Withdraw the unavailable token to an external wallet outside of OKX.
Failure to take action before the migration deadline will result in any locally unavailable tokens being frozen. If frozen, these tokens can only be accessed for the purpose of withdrawing them to another wallet. For a definitive list of which assets are available, 👉 view the complete list of supported tokens.
Account Configuration Requirements
Beyond managing your tokens, you must also adjust your account settings to comply with the new entity's requirements.
- Set Accounts to "No Margin" Mode: Ensure all your Trading accounts and any subaccounts are switched to "No Margin" mode.
- Complete Identity Verification: You must successfully complete the full identity verification (KYC) process by the deadline mentioned in your notification email.
If these steps are not completed in time, your account will be temporarily frozen. However, you will always retain the ability to withdraw your funds.
Closing Active Positions and Products
To facilitate a smooth migration, users are required to settle all active trading positions and redeem funds from various earn products.
Please take the time to:
- Close all open margin positions.
- Settle all positions in perpetual swaps, futures, and options contracts.
- Redeem all funds allocated to Grow products, including Earn, Loan, and Jumpstart offerings.
Completing these actions will prevent any service interruptions and ensure your assets are ready for the transition.
Frequently Asked Questions
What is OKX SERVIÇOS DIGITAIS LTDA.?
It is OKX's new dedicated legal entity established specifically to serve users in Brazil. It offers localized services, including BRL deposits/withdrawals and Brazilian customer support.
What happens if I don't move my unsupported tokens before the migration?
Any tokens not available on the local Brazilian platform will be frozen in your account. You will not be able to trade them, but you will still be able to withdraw them to an external wallet at any time.
Why do I need to close my futures and margin positions?
Closing these active positions is a necessary step to ensure a clean and secure migration of your account to the new local entity. It prevents potential complications with leveraged products during the transition.
Will my access to withdraw funds be affected?
No. Even if your account is frozen for non-compliance with the pre-migration steps, you will always maintain the ability to withdraw your funds to an external wallet.
Is completing identity verification mandatory?
Yes, completing the KYC verification is a mandatory requirement for all users migrating to the new Brazilian entity. It must be done by the specified deadline to avoid account freezing.
How does this change benefit me as a user in Brazil?
The new local entity provides a more tailored experience, with direct support in your local language, easier BRL transactions, and services designed specifically under regional regulations.
We look forward to serving you even better and continuing to be a part of your digital asset journey.
Sincerely,
The OKX Team