Cryptocurrency exchange Okcoin may soon be opening its doors wider to crypto traders in Malta and the Netherlands following blessing from central regulators.

In a Thursday announcement, Okcoin said it had secured formal registration from the central bank in the Netherlands and secured "in principle" blessing for a virtual fiscal avails license from the Malta Financial Services Authority. In addition, the exchange has obtained a coin transmitter license for the U.S. territory of Puerto Rico.

The regulatory benchmarks in Europe are part of Okcoin's plans to partner with local banks and payment providers to minimize regulation risks and make information technology easier for customers to purchase crypto with the euro. The exchange has been providing Dutch residents with crypto-to-crypto trading since 2022, and registered with the country'due south central bank equally a crypto service provider in May 2022.

"With these licenses, we will continue growing our presence aggressively in Europe and adding payment rails and banking partnerships," said Okcoin CEO Hong Fang. "Europe is a big focus for our global growth plans, and we have added almost 25 squad members in 2022 to better serve our customers in this region."

Founded in 2022, Okcoin is i of the world'southward oldest crypto exchanges and has steadily expanded to at present serve customers in more than than 185 countries. Though its headquarters are based in the U.s.a., last year Okcoin moved into Singapore after information technology had also secured regulatory approval in Nihon.

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Many crypto and blockchain firms take prepare operations in Malta, expecting the country would provide favorable regulations within a European Matrimony member. In kingdom of the netherlands, however, officials chosen for a consummate ban on mining, trading, or holding Bitcoin last month.