OKCoin announced that it had expanded its presence in the United States by adding four more locations. As a result, the trading operations reach over 24 States in the region. The exchange has been providing transactions among several big digital coins in the American region. Significantly, the development comes on the heels of the exchange filing a money transmittal license (MTL).
Improves Regulatory Status
The filing of MTL has also improved OKCoin’s regulatory status thus enabling to provide different services. This meant it could offer fiat-to-crypto and crypto-to-crypto trading pairs in the exchange. In November 2017, the cryptocurrency exchange filed for registration of money Service Business (MSB) with the Financial Crimes Enforcement Network (FinCEN) in the United States. The addition of four States meant that the operator is fully complying with the State and Federal laws.
Currently, OKCoin is offering its services in over 20 States. This included Arizona, Alaska, Colorado, Illinois, Idaho, Indiana, Kansas, Massachusetts, Maryland, Maine, Michigan, Minnesota, Nevada, New Jersey, Texas, Tennessee, and Wisconsin. Along with these, Montana, Missouri, Georgia, and the Alabama States are added. Investors from California get the option of trading directly against the American Greenback whereas. On the other hand, investors from these States have the option of trading in crypto-to-crypto.
More Trading Pairs
The cryptocurrency exchange is accepting the American dollars deposits, as well as, withdrawals apart from trading against the most valuable bitcoin. OKCoin also allows trading against Ethereum, Ethereum classic, litecoin, and bitcoin cash. The exchange plans to add more trading pairs in the upcoming periods. Incidentally, the exchange was one of the three big exchanges in China before the establishment cracked its whip on the nascent sector.
Following the hostile environment in China, OKCoin has left with no options but move their operations overseas. It is not the only exchange as others have also resorted to similar actions. If the data is correct, the cryptocurrency exchange’s international wing has managed trading worth approximately $8.4 million in the 24-hour period. As far as a crypto-to-crypto entity, the exchange is managing the trading of nearly $1.96 billion in the same 24-hour period. Interestingly, OKEx is ranked as the number exchange by virtual of adjusted trading volume.