One of China’s “Big 3” crypto exchanges, OKCoin has announced it is expanding in to Europe- in more ways than one.
In the first of two announcements, the exchange opened up euro trading pairs for the very first time. The new spot trading offerings cover BTC, ETH, and BCH and Euros, with more pairings in the pipeline. In a blog on the OKCoin website, the company explained that users can deposit and withdraw Euros with no fees between now and September.
The company also announced it would be opening a new office in Malta that would offer a “tailored set of trading servicesregulated by the Malta Financial Services Authority.”
Under Maltese legislation, this means that OKCoin will be able to offer a tailored set of trading services and assets that are compliant with local and EU law.
“OKCoin will be able to list token projects and introduce diverse payment options quickly and safely to our European users. In addition to these exciting offerings from Malta, we will continue to provide our customers with access to a secure, reliable and advanced digital asset trading platform built on OKCoin’s cutting-edge technology,” explained the blog post.
The new office will form a part of the chiliZ Blockchain Campus which is an accelerator and hub that connects some of the key players in the Asian and European market.
Jovan Gavrilovic, the General Manager of Europe at OKCoin said:
“Europe is essential to the evolution of the cryptocurrency 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.”
She added that the company was happy to bring digital asset trading to the European market in a secure and reliable manner, “enabling users to trade digital assets for euros easily and safely.”
OKCoin noted that they have also recently opened US and Latin American offices and that their exchange has gained a global reach.
“We are truly equipped and ready to help bring safe, secure, and trusted fiat-to-token trading to users across the entire world!” the blog concluded.
In July 2018, Malta became the first EU country to enact a series of bills that provided legal clarity and regulatory certainty for those operating in the blockchain and crypto sector. Through the creation of a new regulatory authority, the MDIA, all activities relating to the industry are monitored for compliance. Service providers and operators are also invited to register within the country, subject to adherence with stringent regulatory standards.
Since then, a number of large exchanges and other crypto-businesses have expanded there, including Binance. This lead to the small island being known as “The Blockchain Island”.