OKCoin Opens US Branch With Fiat Dollar Support
Cryptocurrency exchange OKCoin has opened a division in the US market with the support of the US dollar and several major cryptocurrencies, writes CoinDesk.
According to the information on the OKCoin website, the exchange already allows users to make deposits and withdraw US dollars, as well as exchange them for Bitcoin, Bitcoin Cash, Litecoin, Ethereum and Ethereum Classic.
The exchange registered as a financial services business with the Financial Crimes Enforcement Network (FinCEN) in November last year. According to available documents, the company is registered under the name OKCoin USA Inc. and located in Mountain View, California.
On its website, the exchange reports that the service for exchanging fiat for cryptocurrencies is currently only available to residents of California. The fact that initially the company will operate in its home state was also stated in the application sent to FinCEN.
Previously, a similar step was taken by the Singapore exchange Huobi. This week she launched an affiliate exchange called HBUS, which serves 50 US states..
HBUS has also applied for registration with FinCEN. Huobi co-founder and CEO Li Ling recently revealed that the exchange has not yet settled all issues with the regulator..
OKCoin and Huobi were once one of the three largest exchanges in China, but have been forced to discover other jurisdictions after the country’s central bank imposed restrictions on their activities last year..
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