Cryptocurrency Trading Platform OKcoin Expands to Miami

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The Sunshine State is beginning to seem more like the Crypto State.

A new cryptocurrency trading platform called OKcoin announced it would open an office in Miami, marking the San Francisco-based company’s seventh global office.  

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The platform, which lets users buy and sell cryptocurrencies, says it will bring about 100 jobs with its move.

“Looking forward to joining the tech/crypto community @FrancisSuarez & the rest of MIA are creating,” the company tweeted. 

OKcoin joins several other crypto exchanges that have announced Miami expansions or relocations, such as Blockchain.com, FTX, and eToro. Even real estate is getting its skin in on the game, with condos accepting cryptocurrency as payment for a purchase.

“Our new Miami location is a strategic expansion that enables us to meet the rapid increase in Latin American cryptocurrency adoption while also complementing Mayor Suarez’s commitment to making the city a hub for technology development,” Hong Fang, CEO of Okcoin, said in a statement.

OKCoin also signed on as the first cryptocurrency sponsor of ShellHacks, Florida’s largest annual hackathon.

The event, held in late September, is hosted by a student organization at Florida International University and usually counts more than 1,000 participants. Cryptocurrency conferences are popular in Miami as well, with more than 50,000 visitors hitting the city streets for Miami’s Bitcoin conference in June, despite a rash of coronavirus cases

“We are excited about Okcoin’s commitment to local talent and the innovation ecosystem, and their active corporate presence will help us open more financial and professional doors for our residents,” Miami Mayor Francis Suarez said in a statement. 

OKcoin is also listing a city-based cryptocurrency called MiamiCoin that can be traded on OKcoin’s platform.

OKcoin did not immediately respond to a request for comment.

Celia Young can be reached at cyoung@commercialobserver.com.