• OKX has applied for regulatory approval in France to establish a European hub in Paris.
• The move comes amid an increasingly pro-crypto environment fostered by the French government.
• OKX plans to hire 100 employees in 3 years, which shows its commitment to growing its presence in Europe and preparing for MiCA regulation.
OKX Stakes Europe Ambitions with Paris Base
Seychelles-based crypto exchange, OKX, has applied for regulatory approval in France to establish a European base in Paris. This move is part of the company’s commitment to grow its presence on the continent amid an increasingly pro-crypto environment fostered by the French government.
Hiring Plans
OKX plans to hire around 10 people initially and up to 100 employees within three years as part of its expansion into Europe. This signals their commitment to become a major player in the region’s cryptocurrency market and adhere to upcoming regulations such as MiCA (Markets in Crypto-Assets Regulation).
France Attracting Crypto Companies
France is becoming a hub for cryptocurrency companies due President Emmanuel Macron’s policies that are encouraging growth of this sector. Other exchanges such as Crypto.com have already taken advantage of this opportunity and now it is OKX’s turn.
Securing Regulatory Approval
By registering with Autorité des Marchés Financiers (AMF), OKX will be able become a registered Digital Asset Service Provider (DASP) and offer their services throughout Europe, providing greater access to cryptocurrencies in the region.
Conclusion
OKX’s decision to apply for regulatory approval in France showcases the company’s ambition expand its reach on the continent and become one of the leading crypto exchanges there. With their hiring plans and commitment adhere MiCA regulations, they are well placed take advantage of France being an attractive destination for global crypto firms