In case you missed it: OKCoin announced on the 19th September that they have listed five new cryptocurrencies. The exchange now also supports XRP, Cardano [ADA], Stellar [XLM], Zcash [ZEC] and 0x [ZRX]. The digital assets will be paired with USD, Bitcoin, and Ethereum. Until now it was only possible to trade Bitcoin, Litecoin, Bitcoin Cash, Ethereum, and Ethereum Classic on OKCoin.
One of the leading virtual asset exchange companies, OKCoin, declared that it has added support for five more virtual assets on its exchange for users who reside in the United States. The five virtual assets include Ox (ZRX), Stellar (XLM), Zcash (ZEC), Ripple (XRP), and Cardano (ADA).
It seems that OKCoin is trying to steal Coinbase its thunder, by quickly adding the five cryptocurrencies. In July Coinbase announced that they are exploring the option to add Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX). Four of the digital assets have now quickly been listed by OKCoin.
The news is also remarkable because traders and investors based in the United States who reside in applicable states will now be in a position of buying and selling XRP safely on the OKCoin exchange, which is licensed. Coinbase argued that they would not add XRP anytime soon since it is not clear yet if the SEC will deem it a security. With OKCoin adding XRP, it now seems that is it legal in certain US states to trade the digital asset.
It is interesting to note that the new exchangeable cryptos are also paired against the US dollar. However, only traders based in California will be permitted to trade on them for now.
Tim Byun, the CEO of OKCoin, USA, spoke about the onboarding of the new virtual currencies. Byun said:
“We are very pleased to welcome these five new cryptocurrencies and all of the communities that trade them. As we build out the broadest set of financial products on a globally regulated exchange, we are committed to expanding the trading pairs for our customers, while bringing tokens to the exchange that offer utility, value and demonstrable use cases. Today’s announcement signifies a giant step forward for the entire ecosystem.”
OKCoin was founded in 2013 in China by Star Xu. OKCoin raised several million dollars in initial investments from a variety of venture capital companies in China and the United States, among other areas. OKCoin is one of the largest of these exchanges in the world, although it has come under increasing pressure from regulators in various countries.