OKCoin, a cryptocurrency exchange has launched in the EU, opening up euro pair to traders for the first time. The platform will be available from Tuesday for non-U.S. traders, and the new spot trading offerings cover euro pairs with Bitcoin, Ethereum, and Bitcoin Cash, at launch, with more pairs planned. According to the firm, it will allow euros to be deposited and withdrawn fee-free until September 4.
OKCoin Expands to Europe
At the same time, the company announced the opening of a new office in Malta, featuring, “a tailored set of trading services and digital assets that are compliant with the Virtual Financial Asset Act, regulated by the Malta Financial Services Authority.”
Under the EU jurisdiction’s blockchain and crypto-asset framework, OKCoin will be able to list token projects and introduce a range of payment options “quickly and safely” to European customers.
According to the blog post, the company’s general manager, Jovan Gavrilovic, stated:
“Europe is essential to the evolution of crypto markets. It is home to many progressive ideas for innovating and disrupting the status quo of the global financial system while maintaining a balanced regulatory approach. We are very pleased to bring digital asset trading to the European market securely and reliably, enabling users to trade digital asset for euro easily and safely.”
Initially, the company was once one of China’s “Big 3” crypto exchanges but was forced to shift overseas following the nation’s ban on fiat-to-crypto trading in the autumn of 2017. Currently, the company is headquartered in San Francisco.
Back in January 2019, the firm appeared to be moving towards a reverse IPO in Hong Kong, with the acquisition by founder Star Xu of a listed firm for %60 million.
Additionally, it was alleged in the same month that it was eyeing a launch in South Korea.
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