Cryptocurrency exchange OKCoin announces European expansion

Cryptocurrency exchange OKCoin has announced its expansion into Europe and opening of its office in Malta.

The exchange’s expansion into Europe follows the opening of its U.S. and Latin American offices in 2018.

In its official announcement, OKCoin said that it now supports euro deposits and withdrawals for users outside of the U.S. It said that it has enabled euro spot trading for Bitcoin, Ethereum, and Bitcoin Cash and plans to add more euro digital asset pairs going forward. For a limited period ending September 04, users can deposit and withdraw euros for free.

In addition, OKCoin has opened a new office in Malta in the blockchain accelerator and hub, called the chiliZ Blockchain Campus.

It said that the office will work towards a tailored set of trading services and digital assets that are compliant with the Virtual Financial Asset Act (VFAA), regulated by the Malta Financial Services Authority.

“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,” explained Jovan Gavrilovic, General Manager of Europe at OKCoin.

“We are very pleased to bring digital asset trading to the European market in a secure and reliable manner, enabling users to trade digital assets for euro easily and safely.”

Earlier this year, OKCoin’s parent company OKC Holdings Corp acquired a majority stake in LEAP Holdings Group, a public company listed in Hong Kong. With this acquisition, OKCoin founder Mingxing “Star” Xu became the largest individual shareholder of the publicly listed firm. Speculations were rife that the deal could make way for OKCoin for a possible back-door listing on the Hong Kong Stock Exchange (HKEX).

More recently, LEAP Holdings Group announced that its subsidiary OKLink has signed an agreement with Prime Trust to launch a new stablecoin pegged to the US dollar, USDK.