OKCoin International has decided to spread its wings in the 20 states of US. The firm has already opened its virtual doors to California earlier in this year. Now, the platform is eyeing to spread its functional periphery from Alaska to Wisconsin along with Massachusetts.
OKCoin’s plan to achieve the objective
To become a Mogul in the crypto space, OKCoin expands in the United States with the expansion of its token-to-token trading. The firm has aspired itself to augment the trading volume by endowing the traders with a low price on its pricing model. OKCoin is optimistic about the outcome of this approach and believes that it will help them to widen up their geographical periphery.
Launched in the year 2013, OKCoin International was struggling hard to meet the wants and requirements of the investors. However, it re-launched itself in the States six months ago only with refurbished regulation. In a press release, OKCoin claimed that the firm is now seeking close and far-reaching collaboration with the regulators of every state to stay in compliance with Federal and State convertible rules and obligation for the digital currency.
The hurdles
Currently, OKCoin offers only five tradable cryptocurrency options for investors. As a result, with such a limited offering, achieving OKCoin’s broader vision appears somewhat challenging. Moreover, according to industry experts, this restricted trading scope remains one of the primary reasons the platform continues to struggle with clearing regulatory hurdles.
As per a blog post by OKCoin’s VP of Marketing, Jim Nguyen, the firm has initiated the process to acquire the Money Transmittal Licenses. This is a crucial step when OKCoin expands in the United States as it will widen out its reach in the country.
Despite all of this, the hurdles for OKCoin are still flourishing. Back home, Shanghai Police took the company’s CEO and founder, Star XU, into custody based on allegations of his involvement in fraud and controversies surrounding his projects.
