Once on new exchanges, cryptocurrency finds new clients and new trading directions. Moreover, listing new tokens benefits not only cryptocurrencies, but also exchanges, as they attract new customers to their platform and increase trading volume.
The OKCoin exchange recently announced the listing of five major cryptocurrencies - XRP (Ripple), ADA (Cardano), XLM (Stellar), ZCash and 0x. The US exchange will offer cryptocurrency pairings with these tokens and other tokens listed on the exchange, and California residents will be able to buy and sell XRP, ADA, XLM, ZEC and ZRX tokens for fiat.
“We are pleased to announce this new listing and are committed to expanding the range of financial products for our customers. The tokens offered convey value and have practical use cases,” said Tim Binn, CEO of the OKCoin exchange.
The listing comes as part of OKCoin's strategy to expand operations in the United States, although the US has seen significantly increased regulation recently. As a regulated exchange, OKCoin could have chosen a different time to expand, but at least this way it is growing and following the rules. Although it is still difficult for the exchange to compete with such big players as Coinbase and Gemini.
According to AMBCrypto, the company works closely with regulators and monitors compliance with regulations in each state in which it operates. In addition, the company is currently awaiting the outcome of its application for a Money Transmittal License in other US states.
The license will allow you to offer cryptocurrency and crypto-fiat pairs. That is, the exchange will be able to offer the purchase and sale of more cryptocurrencies for fiat, which will attract even more clients. By collaborating with regulators and expanding into the marketplace, OKCoin is quickly becoming one of the most exciting exchanges in the United States.
According to cryptodaily.co.uk
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