The choices of cryptocurrency exchanges in European Union are getting more and more abundant. After Coinbase, Binance and many other exchanges now OKCoin has also launched in EU. Company’s operations in Europe started from yesterday when it made the Euro pairs available to spot traders in evening, and that was accompanies with an announcement through a blog post. At present the company’s European markets are offering only two pairs, which are BTC-EUR and BCH-EUR. More pairs are likely to be announced soon.
The company also said in its announcement that Euro deposits and withdrawals are completely free from fees. The company has also opened an office in Malta, which in its own words is:
“Offering 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.”
EU is one of those few markets which have formally rolled out legislation for crypto assets, thus making it one of the safest markets for cryptocurrency companies. OKCoin will be able to quickly and safely list project tokens and mainstream cryptocurrencies on its platform in a completely legal manner, thanks to EU’s blockchain and crypto-asset framework. Jovan Gavrilovic, the European general manager of OKCoin, 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.”
OKCoin once used to be among the largest cryptocurrency exchanges in China, but after the crackdown of government on crypto businesses, the company decided to move out of its home market. It’s currently headquartered in San Francisco, and now after opening its Malta office the company will also have a sizable presence in the European market. Earlier this year the company also started moving towards a reverse IPO in Hong Kong as its CEO Star Xu acquired a listed firm for $60 million.
It will be interesting to see how this European game of OKcoin plays out.