OKCoin a leader in fiat-related cryptocurrency exchange with its reach in 184,has announced that Singapore dollars by traders can now deposit and withdraw ethereum and bitcoin.
A cryptocurrency spot pair is in the pipeline too. Singapore dollar is the new welcome addition to the OKCoin platform, along with the US dollar and euro.
The exchange has recently been very open to fiat currencies and is now further solidify its roots, is opening an office in Singapore.
“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 Hong Fang, newly appointed OKCoin CEO.
Singapore a Smart Choice by OKCoin
In a bid to improve its ties with ties and working in accordance with the government and regulators, this decision comes off as a smart one to increase its global horizon. The OKCoin platform pledges to be a safe route to buy and sell cryptocurrencies.
Singapore is an alluring destination for the crypto hotshots as the government has a soft stand on it with no capital gains tax. It also possesses a commendable crypto community. The monetary authority of Singapore has laid down the guidelines for the community and passed the payment services act this year to outline the rules for the crypto token services and remove the air of ambiguity which is something the crypto regulations are accustomed to. Agencies of government are trying their hands at the technology too. All these have helped the crypto space in Singapore significantly and has turned it into a hub.
The city has been home to over 650 crypto-related projects which have to lead to its market cap of 6 percent.
OKCoin’s new office in Singapore would lead to them appointing local professionals whose familiarity with the area can be useful. It is a bold but welcome step in OKCoin’s aspirations and can help them in serving the crypto community without a hitch, globally.
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