These are difficult times for many companies, however, OK Group is undeterred. OKCoin recently completed its registration to launch a cryptocurrency exchange in Japan, the first global exchange to obtain a license in the country.
According to an official statement, Tokyo-based OKCoin Japan Co. Ltd. completed the registration process to launch its virtual currency exchange business.
As a Japanese subsidiary of OK Group, the company declares that it has prepared itself to be in a position to fully comply with the Payment Services Act of the law related to cryptocurrencies, administrative guidelines and self-regulation rules, issued by Financial Services. Japanese. Agency (FSA) and the Japan Virtual Currency Exchange Association (JVCEA) respectively.
However, there are more boxes to check when it comes to settling in Japan. Now OKCoin has finally completed the long process of building the additional security measures required to protect users. These include an operating system to use the services safely and the management of segregation of property and user information. John Feng, CEO of OKCoin Japan said:
“The license granted today despite the serious coronavirus situation in Tokyo was a pat on the back for us. It shows not only the regulator's commitment to the cryptocurrency industry, but also its strong support for OKCoin Japan. This is the first license issued this year, and the first in a global crypto exchange that was obtained through the regular application process. ”
OK Group continues its worldwide expansion
OK Group has been around for much longer than many people realize with subsidiaries operating under different names in different regions, including but not limited to China, the US, Europe, the Philippines, and Malaysia since 2013. Today, this It extends to Japan and the blockchain company employs more than 1,000 staff worldwide.
According to the statement:
“In addition to operating a virtual currency exchange, we are working on the development and commercialization of blockchain technology in collaboration with leading local partners in overseas expansion. By exploring cutting-edge technologies with blockchain ideals, we become aware of technological innovation and industrial restructuring and actively contribute to the development of the industry. ”
It seems OK Group has bigger plans for Japan than simply launching a cryptocurrency exchange here. It will also seek to target institutional merchants and "specific services and hours" that have not yet been announced.
Before the exchange opens its doors, interested users can pre-register by visiting this registration link to create an account. As a fully regulated and compliant exchange in Japan, OKCoin Japan will support the Japanese Yen and deal with major cryptocurrencies including BTC, ETH, ETC, LTC, and BCH.