OKCoin, one of the largest cryptocurrency exchanges in the world by trading volume, has recently announced the launch of a licensed cryptocurrency exchange in Latin America that’ll offer users fiat-to-crypto trading pairs.
According to a press release shared with CryptoGlobe, the cryptocurrency exchange’s new platform will pair the Argentine peso with several major cryptocurrencies, including bitcoin, bitcoin cash, ethereum, ethereum classic, litecoin, XRP, zcash, and more.
OKCoin plans to add more cryptocurrencies to its platform in the “coming months,” and has also revealed it plans to open offices in Argentina’s capital Buenos Aires, with the goal of creating a team to support its expansion in the region. In the press release Tim Buyn, the CEO of OKCoin USA, was quoted as saying:
OKCoin is committed to opening up new markets for digital currency consumers throughout the world, and we are very excited to bring our safe, secure and licensed trading platform to consumers in Argentina
Buyn added that this is just “the beginning” of OKCoin’s expansion into Latin America, as the firm is “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.”
As CryptoGlobe covered, the firm expanded into the US back in July of this year, offering crypto-to-fiat trading pairs in the country. While it initially only serviced California, it soon expanded its reach with token-to-token trading in 20 more states.
In its press release, OKCoin noted that adding the Argentine peso to its growing stable of fiat-based trading options shows its commitment to expand to Latin American markets. It added it plans to “expand throughout Latin America and the rest of the world” by supporting local fiat currencies. Currently, the exchange is present in over 110 countries.
Its recent announcement comes as it joins the C20 Conference in Buenos Aires, taking place November 16-17. In it, the exchange’s Latin American representative Pablo Magro will speak about buying cryptocurrencies in the region.
OKCoin’s move notably comes at a time in which bitcoin trading volumes surge in Argentina, as the country’s fiat currency, the peso, sees its value drop against the US dollar. As covered, Argentina, Egypt and Venezuela recently recorded unprecedented peer-to-peer trading volumes.
Per the press release, users in Argentina can now register for an account at OKCoin’s website, so they can then complete a verification form before they start trading.