The crypto-exchange OKCoin has opened a division in the U.S. market to work with the U.S. dollar and virtual assets. And according to the website, the exchange with exchange the fiat into Bitcoin, Bitcoin Cash, Litecoin, Ethereum and Ethereum Classic.
The exchange was registered as a financial services company under the U.S. Financial Crimes Enforcement Network (FinCEN) last November.
The platform also reported in an application it sent to FinCEN that it will conduct business in California, where its office is located. Therefore, OKCoin stresses that the service of exchanging fiat for cryptocurrencies is thus far only available to residents of this state.
Why it is important
- The other day, Huobi has opened trading on its HBUS exchange service in the U.S. The site began to work through a partner, called HBUS. OKCoin and Huobi were once the two main crypto-exchanges in China before the introduction of a trade ban. After blocking, the exchanges moved their business abroad.
- Competition in the US crypto market among trading platforms is growing as customers will receive greater opportunities for trading.
By Ekaterina Ulyanova