OKCoin launches fiat-cryptocurrency exchange in U.S.
Chinese cryptocurrency exchange OKCoin announced on Friday that it has expanded its trading operations to the United States. The exchange opened a branch called OKCoin USA in San Francisco, California and plans to expand to other states in the days to come.
According to its website, the branch will offer trading services between U.S. dollars and Bitcoin [BTC], Litecoin [LTC], Etheruem [ETH], Etheruem Classic [ETC] and Bitcoin Cash [BCH].
This development comes after Huobi, the world’s third largest cryptocurrency exchange in terms of trading volume, launched its trading operations in the U.S. through its San Francisco-based partner HBUS on Tuesday. However, HBUS currently does not support fiat trading pairs.
Huobi had also launched trading on its Australian digital platform last week and opened an office in London in a move to plant roots in Europe, with plans to begin over-the-counter trading tests in the third quarter this year, according to reports by Coin Telegraph.
OKCoin – here to stay
OKCoin had re-launched its international trading platform in April, after it had ceased its cryptocurrency trading operations following the Chinese government’s crackdown on virtual currencies and ban on initial coin offerings (ICOs).
In the meantime, Star Xu – founder of OKCoin – had set up OKEx in 2014. OKEx is now the second largest exchange in the world by trading volume.
BTCC, China’s first cryptocurrency exchange, had also shut operations last year after the Chinese government imposed restrictions. However, the exchange re-launched its operations last week, with zero trading fees for the first three months. BTCC also hinted at releasing its own token, saying that its rewards system that would allow users to convert their points into the tokens once they are launched.
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