Chief Strategy Officer of OKEx, Alysa Xu, hinted that the Exchange is focussing on developing its presence in the markets of Russia. This strategy aims to expand the presence of Malta-based Exchange globally.
OKEx Plans To Expand In Russia
DeCenter, a Russian based crypto news community, took an interview with Alysa Xu where he put forward the extensive plan for 2020 for expanding the exchanges in various sectors. She stated the vision of taking advantage of the flourishing market of cryptocurrency in Russia. She revealed that the fact could not be ignored that Russia proved to be the key market for Chief Strategy Officer of OKEx.
Despite the weak presence and less marketing activity of OKEx in Russia, the trade volumes increased in the last few months. Alysa disclosed that the Exchange is searching for the reputed local partners to develop their presence in Russian markets successfully. The movement to Russia aimed to purchase of crypto tokens with Russian fiat Rubles.
She explained about the ever-increasing popularity of OKEx token, which will include the effectiveness of various instruments like smart contracts and decentralised Exchange also. Xu cleared that the Exchange will move forward to promote the efficient regulations in cryptocurrency markets.
You may also read: Russia May Soon Formulate Cryptocurrency Law
Russian Government Sceptical About Blockchain Status
OKEx is seeking to establish its position in the global crypto-economic space by expanding its international influence. The Exchange understands the importance of regulation in the crypto market and therefore, willing to comply with regulators to gain the confidence of investors.
On the other hand, Russians are continuously showing their interest in crypto tokens and gaining their loyalty might be valuable for OKEx. Besides the increased trade volume, operating in Russia will be difficult as the government’s position is still unclear on the legal status of blockchain. So far, only big companies are moving ahead towards crypto coins, but the government did not mention anything substantial related to cryptocurrencies.