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OKCoin to Become First Exchange to List Blockstack’s STX Token in US

UTC by Ibukun Ogundare · 3 min read
OKCoin to Become First Exchange to List Blockstack’s STX Token in US
Photo: OKCoin / Medium

STX token trading will begin on the OKCoin exchange after the launch of the Stack 2.0 mainnet on the 14th of January.

OKCoin has revealed plans to list Blockstack‘s STX token in the US in 2021. After a successful listing, OKCoin users in the US will have access to trade STX on the OKCoin exchange platform. Apart from its US customers, OKCoin said users in other countries will also be able to trade STX. However, customers in the EU, Singapore, and Brunei will not be able to trade STX on the exchange platform.

According to an announcement by OKCoin, the listing will be completed after the successful launch of the Stacks 2.0 mainnet in 2021. Notably, OKcoin would be the first US-based crypto exchange to support the trading of STX on its platform as non-securities. 

OKCoin to List STX Token in the US

OKCoin is listing STX after the Blockstack PBC’s move to transit STX from security to a non-security in the US. In an email to CoinDesk, OKCoin’s chief compliance officer, Megan Monroe-Coleman, said that the compliance team had confirmed that STX has transited from a security to a utility token. 

STX token trading will begin on the exchange after the launch of the Stack 2.0 mainnet on the 14th of January. OKCoin said traders who lock their STX to the network and participate in consensus would earn Bitcoin. The further announcement explained that OKCoin would make it easy for customers interested in the consensus, otherwise known as Staking. STX holders will have access to participate in consensus through their OKCoin wallet. 

OKCoin CEO Hong Fang commented on the listing:

“We are very excited to be the first US regulated exchange to list the Stacks cryptocurrency (STX) after it launches its mainnet.”

The CEO said that OKCoin gives users control over their finances. He also stated that OKCoin and Stack have “a lot in common.” Notably, both Stacks and OKCoin are committed to protecting their customers. Fang added:

“Providing investors with access to STC with compliant and easy fiat on-ramp plays an important role in fueling the STX ecosystem to help build that future this industry set out to create.”

More on STX  Listing

In addition, the CEO of Blockstack PBC, Muneeb Ali, said the chosen platform is the “perfect fit” to be the first US-based crypto exchange to list STX. Ali is also the co-founder of Blockstack PBC. Speaking further, the CEO and co-founder said:

“OKCoin is a top exchange for fiat on-ramps and their efforts to build a responsible financial ecosystem for digital currencies align closely with our own commitment to compliance and helping mature the industry.”

Furthermore, the announcement revealed OKCoin users could join the waiting list for an STX airdrop. The exchange is planning an STX airdrop around the launch of the Stacks 2.0 mainnet in 2021. 

Ahead of the Stacks 2.0 mainnet launch, Blockstack PBC would be partnering with OKCoin on STX marketing campaigns and events. 

Altcoin News, Cryptocurrency news, News
Ibukun Ogundare

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

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