OKCoin Exchange Widens Its Services To Four More States In The US
By Jamie Green – Cryptocurrency Investor
OKCoin, which operates the OKEx cryptocurrency exchange, one of the largest exchanges by daily trading volumes by CoinMarketCap, has announced plans to expand their trading operations to four new states in the US in additional to the 20 states already able to buy and sell cryptocurrency through the platform.
The new states include Alabama, Georgia, Missouri and Montana helping the exchange reach a wider audience in the states. The expansion follows OKCoin enhancing its regulatory status after it filed for a Money Transmittal Licence (MTL) allowing them to offer both crypto-to-crypto and fiat-to-crypto trading pairs.
The new service is said to be compliant with both Federal and State laws which could suggest further expansion to more states offering services for buying and selling Bitcoin. Becoming a compliant exchange in the US is a strong move for OKCoins development permitting services to cash out crypto for the largest financial market in the world.
The exchange already accepts deposits and withdrawals in US Dollars that can be traded against Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH) and Ethereum Classic (ETC) with the hopes of adding more support for other cryptos. Users may be able to use the platform to sell XRP for fiat in the future
OKCoin begun its operations in China before the authorities targeted and suppressed the digital asset industry and subsequently banned ICOs. This caused the exchange along with three others to relocate their operations overseas to continue selling crypto. China is a nation that has strongly opposed cryptocurrencies themselves but have adopted much of the underlying blockchain technology.
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