OKCoin, one of the oldest and largest cryptocurrency exchanges in the world, has just opened an office in Singapore, alongside announcing support for the country’s official dollar.
As of now, users within Singapore can use their local currency to buy and trade Bitcoin and Ethereum. On top of this, more pairs are on their way, according to a press release from the company.
“There has been a huge demand from traders throughout Singapore who are looking for a safe and reliable way to trade cryptocurrencies with the Singapore dollar, and we are proud to be entering the market in a way that fully complies with local regulations and policies,” said OKCoin’s new CEO, Hong Fang, on the matter.
As you may know, Singapore is and has been one of the leading countries regarding the push for cryptocurrencies and blockchain technology. Citizens within the country don’t pay capital gains tax, and many there are increasingly outspoken and optimistic on the matter.
OKCoin has just launched a Latin American office and support for trading over there. The group also recently appointing Fang to increase their US expansion. They’ve been expanding to other countries, too, like Argentina. They’ve also issued a Yuan-backed stablecoin, leading some to question the number of stablecoins available on the market today.
