OKCoin, a China-based cryptocurrency exchange has announced to launch its new branch in the U.S that will provide fiat-to-crypto trading services. On Friday, the company announced on its website about this new service and has already started accepting U.S Dollar deposits and withdrawal.
Last year in November 2017, filed a Money Service Business (MSB) registration with the U.S. Financial Crimes Enforcement Network (FinCEN) and is an official license holder now. The company is now a legal entity registered as OKCoin USA Inc. based in Mountain View, California.
The exchange platform is currently offering to trade between U.S Dollars and cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic and Litecoin. The company will soon be adding more trading pairs for its users. Currently, the service is available for customers in California and the exchange plans to soon expand it to other states in the U.S.
OKCoin was launched five years back in 2013 and has emerged as one of the strong players in the exchange market. The exchange is known for providing its fast and secure trading experience to its customers. The exchange offers trading options in BTC, LTC, ETH, ETC, BCH besides others.
Over the years, OKCoin has spread its operations around the globe and currently holds branches in Tokyo, Seoul, Luxembourg and Hong Kong etc.
A few weeks back, another Chinese cryptocurrency exchange – Huobi launched crypto-to-crypto trading service across all of the 50 states in the U.S through a San Francisco-based partner company called HBUS. HBUS also registered with the FinCEN to obtain an MSB license, earlier this year. At that time, Li Lin, co-founder and chief executive of Huobi said that registering with the FinCEN doesn’t ensure the solution to all regulatory issues in order to operate in the U.S.
While commenting on the partnership with Huobi, CEO of HBUS, Frank Fu said:
“Our strategic partner, Huobi, has grown to be the largest digital asset marketplace globally. As investors‘ acceptance of virtual currency and digital asset increases, we have seen incredibly high demand in the U.S. We are excited to launch as Huobi’s strategic partner, to serve the growing number of people participating in virtual currency trading.”
Just last week, Huobi also opened up a new branch of digital asset exchange in Australia. Australia CEO Adrian Harrison, Australian investors tend to be quite informed and “sophisticated.” He said:
“Crypto-traders in Australia are increasingly knowledgeable and sophisticated, matched by a receptive regulator with interest in safely developing the market.”
“For Huobi Group, the move to Australia is a natural fit… We are keen to partner with the growing numbers of Australian blockchain projects looking to list in a maturing market.”