On 19th September, OKCoin announced that it has listed five new cryptocurrencies on its exchange. It now supports XRP, Cardano [ADA], Stellar [XLM], Zcash [ZEC] and 0x [ZRX]. The Virtual Currencies [VCs] will be paired with USD, Bitcoin [BTC], and Ethereum [ETH].
The exchange further stated that the USA traders and investors will be able to buy and sell the above pairs “securely through OKCoin’s licensed exchange”. However, the Fiat-Token pairing will only be available to the Californian residents.
Tim Bynn, the CEO of OKCoin, USA, spoke about the onboarding of the new virtual currencies. He 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.”
Over the past week, the altcoins XRP and ADA have beaten the slow market witnessing a double-digit digit surge.
At press time XRP is trading at a value of $0.32 with a market cap of $12 billion. ADA is trading at $0.072 with a market cap of $1.8 billion.
Earlier, this month OKCoin announced its expansion into 20 more U.S. states. They also revealed that the company has been working closely with the regulators and following researched regulations in every state it has expanded to, to ensure that they comply with Federal and State Convertible VC rules.
In addition, the company is currently in the process of applying for a new license named Money Transmittal Licenses [MTL] in the remaining states of U.S. The licensing will allow crypto-to-crypto and fiat-crypto trading.
Furthermore, they stated that the trading service in the additional states will be opened once the license is issued or when the company receives a clarity that trading is permissible.