The Largest Cryptocoin Exchange BTC China Launches USD and HKD Trading

| Updated
by Konstantin Lazarev · 2 min read
The Largest Cryptocoin Exchange BTC China Launches USD and HKD Trading
Image: BTC China

The Shanghai-based bitcoin and litecoin exchange has launched support for USD and HKD deposits and withdrawals to attract customers from the international community.

BTC China the China’s first bitcoin exchange has announced the launch of USD and HKD deposits and withdrawals. The move makes this shanghai based exchange the latest exchange in China that openly extends its services to the international community.

The news appears right after the announcement that was made at The North American Conference (TNABC) by Beijing-based OKCoin. The exchange reported that no later than this week the new USD deposits would be added.

Bobby Lee, BTC China CEO and Bitcoin Foundation board member, commented:

“As a global company, BTC China is pleased to accommodate the demands of our users, both domestic and international.”

Before the launch there was invite-only testing period, and according to BTC China it managed “to collect several million USD worth of deposits”.

Moreover, BTC China bitcoin exchange recently also extended its product offerings for international customers, introducing a mobile bitcoin wallet last month.

BTC China mentioned that the move is the foundation in a broader support for additional currencies, commenting that the exchange users had been limited to deposits and withdrawals only in Chinese currency.

Those users who are willing to have trading accounts in newly supported currencies will need to open an international account in addition to a domestic account.

The company specifies all orders on the service will be processed via its registered Hong Kong affiliate, so far seeing all the restrictions imposed by China, Hong Kong has been more welcoming digital currency businesses.

Furthermore, the bitcoin market of China has been experiencing uncertainty in the past months, following statement from the People’s Bank of China, that the bank wanted to eliminate bitcoin companies from the traditional financial services sector.

Even though the uncertainty will be floating in the air, the central bank’s representatives publicly claimed that in the future they do not plan to ban digital currency.

The announcement is notable given the recent emphasis bitcoin’s China-based businesses are placing on the international market.

Additionally, OKCoin CTO Changpeng Zhao said during the TNABC that the company aims to provide international customers with 24-hour support over the phone calls.

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Konstantin Lazarev
Co-Founder & CIO Konstantin Lazarev

Konstantin has always been at the forefront of the global virtual currency scene since first discovering cryptocurrencies the same year that Satoshi Nakomoto created bitcoin in 2009. Konstantin is the owner of a number of small businesses in trucking and mobile development, and co-founded CoinSpeaker in 2014. He graduated from Belarusian State University in 2009 with a degree in Mathematics and Mechanics. You can contact Konstantin via [email protected]

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