Digital Currency Exchanges Are Looking Beyond Domestic Investors

2018-7-15 16:09

The increasing demand for cryptocurrency has led exchanges to believe that they have every reason to go beyond their existing operations. Undoubtedly, they want to gain from the popularity that the virtual currency sector is seeing at present.

This was quite evident when two of the most significant digital currency exchanges in the world announced their intention of expanding onto foreign soil. The growing awareness of cryptocurrencies as the new age financial instrument throughout the world is enticing the exchanges.

Coinsquare Announcement

Canada-based Coinsquare joined hands with DLTa21, which is a blockchain investment bank, to unveil a virtual currency exchange that will focus on the Japanese market. The two companies, together, will create a new platform that will be known as DLTa21X. The new exchange will start operating once all the regulatory approvals are received in Japan.

Cole Diamond, CEO of Coinsquare, commented:

 

“I’m excited for this monumental step in Coinsquare’s history. Working with a world-leading investment firm like DLTA 21 to bring a safe, secure, easy digital currency buying and trading experience to Japan is a thrilling next step in Coinsquare’s mission. Japan is a unique market, and we’re looking forward to offering our platform’s capabilities to the Japanese market.”

The country is supportive of the crypto industry, but the regulator did not want to loosen its grip. Another exchange that has shown interest in Asia is Coinbase.

Coinsquare’s plan to enter Japan comes on the heels of the United States-based Coinbase announcing an expansion plan catering to one of the most prominent Asian markets. The cryptocurrency exchange’s vice president, Dan Romero, said that its objective is to help accelerate the adoption rate of digital coin across the globe.

Asian Exchanges Are Not Far Behind With Western exchanges opening for business in Asia, it appears that Asian exchanges are doing the reverse.

OKCoin’s VP of business development, Jason Lau, in a tweet, announced that they have opened a branch and that trading is live in the United States. Investors can trade digital coins like Ethereum Classic, Ether, Litecoin, Bitcoin Cash, and Bitcoin.

Currently, the firm is offering services to residents of California only. The company is hoping to expand to other States in the following months.

Digital Currency Exchanges Are Looking Beyond Domestic Investors was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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