Crypto trading platform OKCoin has just announced through a press release that it has opened a new office in Singapore.
Per the announcement, the aim of this new office is to serve as a new centre for crypto traders in Asia and Oceania.
The opening of this new office in Singapore comes just 5 months after the country's regulator gave the company the green light.
The exchange, which already supports the Singapore dollar, will allow its users to directly trade the local currency in pairs with Bitcoin (BTC) and Ethereum (ETH). In addition, they will also be able to trade BTC, ETH, Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum Classic (ETC) in pairs with the US dollar.
The exchange is working hard to comply with local regulations. Thus, Khairi Azmi, the general manager of the newly opened office in Singapore, has said OKCoin has taken the necessary steps to ensure its operations adhere to the guidelines and requirements of the Payment Services Act, or PSA, issued by the Monetary Authority of Singapore, or MAS.
The act, which came into effect in January this year, requires crypto-related companies to apply for operating licenses such as a money-changing license, a standard payment institution license and a major payment institution license.
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