Chinese exchange OKCoin have announced the launch of their services in the US today. The firm, which filed a money service business registration last year, has already made several trading pairs available with the USD. Currently, services are available to residents of California only, but the roll-out to other US states is expected to follow quite quickly.
The launch will certainly benefit the crypto industry in the US, with fiat-to-crypto options providing an easy way in. There’s already some diversity to the service too, with Bitcoin, Bitcoin Cash, Litecoin, Ethereum and Ethereum Classic all available as USD trading pairs. Of course, Huobi have already launched their services across all 50 US states, but their service offer is currently crypto-to-crypto only. The move is also a positive one for OKCoin, especially given the ban that still exists in China.
OKCoin was founded in 2013, receiving substantial investment from Tim Draper’s VenturesLab, and Chinese firms Ceyuan and Longling Capital the year after. Their US head office is located in San Fransisco.