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Home » Business » Crypto Exchange OKCoin Opens Shop in Singapore, Adds SGD Onramp

Crypto Exchange OKCoin Opens Shop in Singapore, Adds SGD Onramp

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The exchange joins a community of over 600 companies that have incorporated in the country, including Binance Asia, Litecoin Foundation, Algorand Foundation, and a host of others. 

Singapore Smart City initiative

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OKCoin traders in Singapore can now buy Bitcoin and Ether using Singapore dollars (SGD). The move is followed by the exchange opening offices in one of the most crypto-friendly jurisdictions in the world. 

OKCoin Adds Singapore Dollar Onramp

Servicing the Southeast Asian country is the latest in OKCoin’s ambitions to connect the world to cryptocurrencies. The newest onramp will also open the exchange to a bonafide hub for crypto innovation. 

OKCoin CEO, Hong Fang, said in a press release shared with Crypto Briefing:

“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.”

Along with adding yet another fiat gateway to the nearly 200 onramps, OKCoin will also be opening offices in Singapore. 

The city-state’s central bank, the Monetary Authority of Singapore (MAS), has already recognized the utility of cryptocurrencies. The so-called “Payment Services Bill” brings digital asset service providers under the purvey of the government. Though costly for some, applying for this critical license adds legitimacy to Singapore’s crypto industry.

Many government agencies are even incorporating blockchain technologies into its smart city ambitions

The exchange joins a community of over 600 companies that have incorporated in the country, including Binance Asia, Litecoin Foundation, Algorand Foundation, and a host of others. 

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