SAN FRANCISCO, July 29, 2021 – Cryptocurrency exchange Okcoin today announced it has secured “In Principle” approval from the Malta Financial Services Authority and formal registration from the Netherlands Central Bank.
The two cryptocurrency (DABA) licenses will enable Okcoin to further honor their commitment to build a more inclusive future of finance by providing easy access to cryptocurrency for European customers.
“Europe is a big focus for our global growth plans, and we have added almost 25 team members in 2021 to better serve our customers in this region,” said Okcoin CEO Hong Fang in a statement.
According to Hong Fang, there’s an increasing trend of European Neobanks looking to provide yield on their deposits, and a PWC report highlighted that 42% of global crypto hedge funds are involved in staking. He further said that Okcoin’s APIs and Earn product will provide them with this capability.
“With these licenses, we will continue growing our presence aggressively in Europe and adding payment rails and banking partnerships to further establish ourselves as a trusted partner for retail and institutional clients,” added Hong Fang.
Upon formal approval from the Malta Financial Services Authority, Okcoin will be the only U.S.-headquartered exchange to receive a Class 4 license, enabling cryptocurrency trading in addition to more commonly available wallet cryptocurrency services. Registration with the Dutch Central Bank will enable greater banking partnerships and payment rail integrations across Europe.
The licenses enable Okcoin to service customers across Europe as a regulated exchange, opening the door to partnerships with local banks and payments providers to further facilitate easy transactions in these markets, simplify the Euro-to-cryptocurrency transmission, and minimize regulation risks.
Okcoin has served Netherlands customers with crypto-to-crypto trading since 2018. In May 2020, OKcoin registered with the Dutch Central Bank (DNB) as a crypto service provider offering crypto-to-fiat trading and exchange services.
With the addition of these licenses and global customers in more than 185 countries, Okcoin now serves more countries than any other US-headquartered cryptocurrency exchange in the world.
To learn more about Okcoin, please visit Okcoin.com.
About Okcoin
Established in 2013, Okcoin is one of the world’s fastest-growing cryptocurrency platforms. Seeking to build a more inclusive finance future that builds wealth for everyone, Okcoin is building the next generation of tools to help anyone invest in and trade crypto easily and with industry-low fees. Okcoin supports millions of customers across more than 185 countries, assisting them in taking advantage of staking and DeFi offers and trading Bitcoin, Ethereum, and more than 25 other crypto assets.
Headquartered in San Francisco, Okcoin has a remote, globally-distributed team and offices in Hong Kong, Singapore, Malta, Japan and Korea.