Cryptocurrency exchange OKCoin has launched in the EU, opening up euro pairs to traders for the first time.
Available from Tuesday for non-U.S. users, OKCoin’s new spot trading offerings cover euro pairs with bitcoin (BTC), ether (ETH) and bitcoin cash (BCH) at launch, with more pairs planned. The firm said on its blog that until Sept. 4, euros can be deposited and withdrawn fee-free.
At the same time, OKCoin has announced the opening of a new office in Malta, featuring, it says, a “tailored set of trading services and digital assets that are compliant with the Virtual Financial Asset Act, regulated by the Malta Financial Services Authority.”
Under the EU jurisdiction’s blockchain and crypto-asset framework, OKCoin will be able to list token projects and introduce a range of payment options “quickly and safely” to European customers, according to the blog post.
Jovan Gavrilovic, OKCoin’s European general manager, 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. 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.”
Once one of China’s “Big 3” crypto exchanges, the firm was forced to shift overseas following the nation’s ban on fiat-to-crypto trading in the autumn of 2017. It’s now headquartered in San Francisco.
Back in January 2019, the firm appeared to be moving towards a reverse IPO in Hong Kong, with the acquisition by founder Star Xu of a listed firm for $60 million.
In the same month, the exchange was said to be eyeing a launch in South Korea.
Euros image via Shutterstock
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.