OKCoin Enters US Market with Fiat-to-Crypto Trading Service

 OKCoin Enters US Market with Fiat-to-Crypto Trading Service OKCoin Enters US Market with Fiat-to-Crypto Trading Service

China-based cryptocurrency exchange OKCoin said on Friday that it has expanded its trading operations to the US and now offers transactions between USD and a number of major digital currencies.

The launch of the new branch based in Mountain View, California, comes after OKCoin filed a Money Service Business (MSB) registration with the US Financial Crimes Enforcement Network (FinCEN) in November 2017.

The new service, “fully compliant with applicable US regulations”, is currently available to California users only, but “other US states [are] coming soon,” OKCoin said in a blog post.

According to the statement, OKCoin is already accepting US dollars deposits and withdrawals, as well as trading against (BTC), (BCH), (LTC), (ETH) and (ETC). More trading pairs are set to be supported in the future, the exchange further revealed.

To celebrate its foray into the US crypto market and attract investors, OKCoin is also offering some promotional terms:

“For a limited time, all OKCoin users will enjoy a weekly rebate of 70% of regular trading fees paid. In addition, all users will be able to earn an unlimited amount of referral fees by inviting their friends to trade on OKCoin. Specifically, users will earn 30% of their referred traders’ regular trading fees paid.”

OKCoin’s expansion move comes after earlier this week Chinese peer Huobi launched its crypto-to-crypto trading service in the US through San Francisco-based partner HBUS.

OKCoin and Huobi were two of the three major crypto exchanges in China before the government’s crackdown on virtual currencies and ban on Initial Coin Offerings (ICOs) in September 2017. Fleeing the hostile business environment, both companies have since shifted their operations overseas.

This article appeared first on Cryptovest

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.