Okcoin gets regulatory approval in Malta and the Netherlands

CEO of Okcoin Hong Fang said Okcoin was focused on Europe as part of the Company's further global growth planning.

Okcoin gets regulatory approval in Malta and the Netherlands

Cryptocurrency exchanges Okcoin Opening  crypto trading very soon in Malta and Netherlands following approval from key regulators.

In yesterday's announcement, Okcoin said it had got formal registration from the central bank in the Netherlands and secured "in principle" approval for a virtual financial assets license from the Malta Financial Services Authority. Also Okcoin has got a money transmitter license for the U.S. territory of Puerto Rico.

The regulatory benchmarks in Europe are part of Okcoin’s plans to build partnerships with payment providers and local banks to minimize risks and make it easier for consumers to purchase crypto with the euro. 

Since 2018, Okcoin has been providing Dutch residentes with crypto-to-crypto trading also registered in May 2020 with the Dutch’s central bank as a crypto service provider.

“With these licenses, we will continue growing our presence aggressively in Europe and adding payment rails and banking partnerships,” told Okcoin CEO Hong Fang. "Europe is a big focus for our global growth plans, and we have added almost 25 team members in 2021 to better serve our customers in this region."

Okcoin was founded in 2013, Okcoin is one of the world’s oldest crypto exchanges and now it serves its services in more than 185 countries to customers. It’s currency headquarters are in Singapore but in the beginning it was in the United States. Okcoin moved into Singapore after it had secured regulatory approval in japan.

Some  cryptocurrency and blockchain foundations have set up operations in Malta, expecting the country would provide favorable regulations within a European Union member. 

Read: PayPal is ready to launch crypto trading in the UK