Digital Currency Exchange OKCoin Expands With Five New Coin Offerings

Cryptocurrency exchange OKCoin is continuing its expansion in the US market with the addition of five new coins to its offerings.

Cryptocurrency exchange platform OKCoin announced on Tuesday the addition of five new coins to its US listings, comprised of Cardano (ADA), Ripple (XRP), Stellar lumens (XLM), 0x (ZRX), and Zcash (ZEC). The move followed a successful launch in California several months ago, the company said in a statement.

The exchange said the coins would be paired with Bitcoin, Ether, and the US dollar. However, trading the currencies against fiat pairs will be initially available to California residents only, while crypto-to-crypto trading will be offered in 20 US states, as well as California.

OKCoin USA CEO Tim Buyn, said in a statement, "We are very pleased to welcome these five new cryptocurrencies and all of the communities that trade them,” as he added the platform remains committed to bringing in tokens "that offer utility, value and demonstrable use cases."

It also comes at a time when OKCoin is rapidly expanding its presence in the US since opening shop in the country in November 2017 in Mountain View. The exchange moved to San Francisco in June 2018, and a month later, formally announced its operations in the US by offering to trade between several major digital currencies and the US dollar.

Last week, OKCoin announced the expansion of its crypto-to-crypto trading services into 20 additional US states. In a blog post, the cryptocurrency exchange said it is now offering its services states of Arizona, Alaska, Colorado, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts,  Minnesota, Michigan, Missouri, Montana, New Jersey, Nevada,  Texas, Tennessee, Utah, and Wisconsin.

“In order for the cryptocurrency market to reach its full potential, digital currency exchanges like OKCoin have to work with existing and new regulators for convertible virtual currency, digital goods, and/or securities,” Buyn commented on the launch. "Our team has worked diligently within the complexities of the US regulatory frameworks. We are excited to take this major step forward as we aim to break down the barriers preventing a truly global digital asset market while adhering to long-established regulations."

OKCoin also owns and operates OKEx, which is offering hundreds of token-to-token trading pairs. It is listed as the second biggest exchange in terms of volume on CoinMarketCap.