SAN FRANCISCO, July 28, 2021 / PRNewswire / – Okcoin, one of the fastest growing cryptocurrency platforms in the world, today announced that it has obtained “in principle” approval from the Malta Financial Services Authority and official registration of the Bank central Netherlands. The two cryptocurrency licenses (DABA) will allow Okcoin to further honor its commitment to building a more inclusive financial future by providing easy access to cryptocurrency for European customers.
“Europe is a priority for our global growth plans, and we have added nearly 25 members to the team in 2021 to better serve our clients in this region, ”said Hong Croc, CEO of Okcoin. “We are seeing a growing trend of European neobanks seeking to make their deposits profitable, and a PwC Report pointed out that 42% of global crypto hedge funds are involved in staking; our APIs and our Earn product will provide them with this capability. With these licenses, we will continue to aggressively increase our presence in Europe and adding payment rails and banking partnerships to further establish us as a trusted partner for retail and institutional clients. “
After formal approval from the Malta Financial Services Authority, Okcoin will be the only US-based exchange to receive a Class 4 license, allowing cryptocurrency trading in addition to the more commonly available wallet cryptocurrency services. This registration with the Dutch Central Bank will strengthen banking partnerships and railway payment integrations through Europe. Okcoin will maintain compliance with best practices and ethical standards to create better connections between the financial and banking system and the proliferating crypto ecosystem.
Licenses allow Okcoin to serve customers through Europe as a regulated exchange, opening the door to partnerships with local banks and payment providers to further facilitate transactions in these markets, simplify the transmission from euro to cryptocurrency and minimize regulatory risks. Okcoin served Netherlands clients with crypto-to-crypto trading since 2018. In May 2020, Okcoin has 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 clients in over 185 countries, Okcoin now serves more countries than any other US-based cryptocurrency exchange in the world. To learn more about Okcoin, please visit Okcoin.com or follow Okcoin on Twitter and LinkedIn.
Founded in 2013, Okcoin is one of the fastest growing cryptocurrency platforms in the world. Seeking to build a more inclusive financial future that creates wealth for everyone, Okcoin is building the next generation of tools to help anyone invest and trade cryptos easily and with low fees. Okcoin supports millions of customers in over 185 countries, helping them take advantage of staking and DeFi offerings and trade Bitcoin, Ethereum, and over 25 other crypto assets. Based at San Francisco, Okcoin has a team and remote offices located around the world at Hong Kong, Singapore, Malta, Japan and Korea.