The popular cryptocurrency exchange OKCoin is in the crypto news again, this time for its new launch in the Latin American market. A press release has confirmed this move by the exchange, and also confirmed that there will be a new platform launch which will let users trade Bitcoin and other top altcoins against local fiat currencies.
As the release notes, OKCoin’s expansion to Latin America comes after it became a fully licensed platform for operating in the region. At start, OKCoin will allow users in Argentina to deposit Argentine pesos (ARS) to the platform, which can be traded with top cryptos such as Bitcoin, Bitcoin Cash, Ethereum, Cardano, Stellar, Zcash and 0x.
According to the document, OKCoin will also be opening an office in Buenos Aires and setting up a team to “support the business throughout Latin America.”
As one of the largest cryptocurrency exchanges in China before the region’s trading ban, OKCoin has been expanding at a rapid pace (outside China, of course). In January, the exchange launched a platform in South Korea and entered the United States with fiat-to-crypto offerings in July 2018.
Currently, OKCoin supports USD trading and is present in over 110 countries. As the CEO of OKCoin USA Tim Buyn believes, this is just the beginning of the expansion.
“We’re aiming to grow throughout the region by bringing institutional and retail traders there an array of trusted trading options so they can buy and sell with confidence,” Buyn said following the official announcement.
He also pointed that the Latin American market is extremely important for the exchange as it is for many crypto and blockchain industries.
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“There is new technical work to make this possible, and that was done in conjunction with PayPal.”However, this Friday Osgood wrote that the partnership provides Coinbase customers an alternative to the traditional federal wire or automated clearing house (ACH) network that they were required to use. As he said:
“These traditional finance networks can add up to two business days to a withdrawal. We’re always looking for ways to not only meet the bar set by traditional finance, but raise it. That’s why we rebuilt our integration to ensure that the speed and reliability of PayPal withdrawals does just that.”The service is for now only available to customers in the United States, but could continue to be added to other nations across 2019, as Osgood wrote.
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“As BTC is approaching the target of the 2014 fractal the targets of most people change from 3k to 1k and even lower. I still think $2,700 is an excellent place to buy if we should go there. ‘History doesn’t repeat itself but it often rhymes.’”Currently, there is a big risk in shorting and longing Bitcoin and other major cryptocurrencies in the market, which is why investors are observing the short-term trend of the crypto market by holding out on their trading activity.
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“This week, the 24-hour transaction number for Dapps reached 1.04M, a 48% increase compared with last week; the 24-hour trading volume hit 640M TRX, an 151% increase compared with last week. We have seen significant increases in both indexes […]”One of the most interesting projects built on Tron is Seedit which is a decentralized platform that lets users contribute funds to the content creators that they most appreciate. Project Atlas is also a well-known project which incentivizes people to seed content on the BitTorrent protocol, which was acquired by Tron back in July this year.
Bitcoin Cash Drops Again By 15 Percent While Other Cryptocurrencies Take A Stronger Hit
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