Okcoin receives regulatory approval in Malta and the Netherlands

After obtaining approval from major regulators, the cryptocurrency exchange Okcoin may soon open its doors to crypto traders in Malta and the Netherlands.

In Thursday’s announcement, Okcoin Say It has been officially registered by the Dutch Central Bank and has obtained a virtual financial asset license “in principle” approved by the Malta Financial Services Authority. In addition, the exchange has obtained a currency transfer license for the Puerto Rico Territory of the United States.

European regulatory benchmarks are part of Okcoin’s plan to work with local banks and payment providers to minimize regulatory risks and make it easier for customers to purchase cryptocurrencies using euros. Since 2018, the exchange has been providing Dutch residents with cryptocurrency-to-cryptocurrency transactions, and was registered as a cryptocurrency service provider with the central bank of the country in May 2020.

“With these licenses, we will continue to actively expand our business in Europe and increase payment channels and bank partnerships,” Say Hong Fang, CEO of Okcoin. “Europe is the focus of our global growth plan, and we added nearly 25 team members in 2021 to better serve customers in the region.”

Founded in 2013, Okcoin is one of the oldest cryptocurrency exchanges in the world, and has been expanding steadily, now serving customers in more than 185 countries. Although its headquarters is in the United States, Okcoin last year Moving to Singapore After it also has Obtain regulatory approval In Japan.

related: Cryptocurrency exchange OKCoin uses FIS subsidiary Worldpay to lead global expansion

Many crypto and blockchain companies have Setting up a business in Malta, It is expected that the country will provide favorable regulations in EU member states.However, in the Netherlands, officials Call for a total ban Mined, traded, or held Bitcoin last month.