OKEx, a Malta-based cryptocurrency exchange is opening its doors to users based in the UK and Thailand.
The exchange announced on Wednesday that it has launched trading with the two jurisdictions’ fiat currencies on its OTC markets.
Users from these two countries can register on the platform and complete their KYC to start trading in their fiat currencies.
Adding GBP and THB Support
On the Over the Counter (OTC) markets of OKEx, users from the United Kingdom and Thailand will be able to trade in their national currencies, British Pound (GBP) and Thai Baht (THB) respectively.
Users will have to complete KYC verification after registration to be able to use this new feature on the platform.
The GBP and THB markets are currently supporting trading in Bitcoin (BTC), USDT (Tether), Ethereum (ETH) and Litecoin (LTC).
The OTC market already has support for the Chinese Renminbi (CNY) and Vietnamese Dong (VND). However, it is planning to launch support for more currencies this year.
The company is eyeing two launch events in the next two months for its OTC markets- the first in Bangkok, Thailand on February 13 and the second is in London, the UK on an undisclosed date in March.
OKEx Will Launch New Promotions
The OKEx OTC trading market allows users to work with a self-selected exchange rate and payment methods, which can be used to buy and sell virtual currencies with fiat currencies.
As a result of this, the OTC markets remain low-volatility and carry zero transaction fees.
Andy Cheung, head of operations at OKEx noted that the exchange’s mission is to offer convenience and flexibility to the traders.
“Thailand and the UK own the fastest growing crypto communities in the world. We see great potential in these two markets and want to support the needs there. Because of the increasing trading volume and the number of traders in these two countries, we decided to launch the new THB and GBP trading services on our OTC trading platform. Wherever the market potential locates, we will expand to there.”
He said that new currencies would be added on the exchange in the future but did not specify which fiats the exchange is looking in to.
However, the exchange is currently running a promotion for all customers from the UK and Thailand.
People who register on the platform between January 23 and 27, will get a chance to earn up to 50 USDT coins if they make a deposit of 100 USDT or equivalent to their accounts.
They must also complete their first transaction on the platform to be eligible for the reward.
The top 70 traders who bring the highest transaction volumes will be rewarded 30 USDT.