SINGAPORE — March 12, 2020 — OKCoin (www.okcoin.com), a leading fiat-focused cryptocurrency exchange with service in 184 countries, announced that traders can now deposit and withdraw Singapore dollars for bitcoin and ethereum, with additional cryptocurrency spot pairs coming soon. The Singapore dollar joins the US dollar and the euro in OKCoin’s growing acceptance of fiat currencies. The company will also open an office in Singapore.
“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,” said Hong Fang, newly appointed OKCoin CEO. “We intend to create a truly global cryptocurrency market, so supporting the Singapore dollar along with the euro and US dollar is an important step towards our goal.”
As part of its ongoing commitment to working with governments and regulators around the world, OKCoin’s support of the Singapore dollar aims to further its global reach. OKCoin is dedicated to accessibility and compliance and providing users a safe and secure platform to buy and sell crypto.
Due to its crypto-friendly governance — including no capital gains tax — and active community, Singapore has a burgeoning reputation as a global hotspot for cryptocurrencies. The Monetary Authority of Singapore has made a concerted effort to provide well-defined guidance to the crypto community, passing the Payment Services Act this year to help digital payment token services understand and comply with regulatory standards. Local government agencies are also experimenting with the technology themselves. These and other factors have created a friendly atmosphere for cryptocurrency traders and innovators, contributing to Singapore’s rapidly growing crypto community. The city has provided a home base for almost 650 crypto projects, accounting for 6 percent of the world’s total cryptocurrency market cap.
With the opening of OKCoin’s new office in Singapore, the company plans on hiring local professionals to keep pace with its bold plans for the new location. This continued personnel expansion will support OKCoin’s broader mission to better serve the global community of institutional and individual cryptocurrency traders.
OKCoin is one of the largest and most trusted fiat-to-crypto trading platforms in the world. Founded in 2013, OKCoin offers advanced features for crypto beginners and high-volume traders alike, enabling users in 184 countries worldwide to exchange fiat currency including the US dollar, euro, and Singapore dollar for bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies. OKCoin Inc. is a registered Money Services Businesses (MSB) with the Financial Crimes Enforcement Network (FinCEN). OKCoin’s mission is to make digital assets accessible to the world while complying with the highest of regulatory standards. For more information, visit http://www.okcoin.com.