Three Major Crypto Exchanges Expand Operations Abroad
With the global cryptocurrency market capitalization approaching $2 trillion, crypto companies are looking to take advantage of the upward trend. Banxa, OKX, and EDX have all made recent moves to expand their operations internationally.
Banxa Registers with the UK’s Financial Conduct Authority
Banxa has secured a registration with the UK’s Financial Conduct Authority (FCA), making it the first crypto company to do so in 2023. This allows Banxa to operate as a cryptoasset business in the country, benefiting partners like Binance, KuCoin, and OKX.
OKX Launches in Argentina
OKX has officially launched in Argentina as part of its expansion into Latin America. Argentinians will now have access to a localized platform that offers all of OKX’s features and services. The country’s history of economic instability and growing interest in cryptocurrencies make it a promising market for OKX.
EDX Expands into the Singapore Crypto Market
EDX Markets, backed by Fidelity and Schwab, plans to enter the Singapore crypto market this year. The decision is driven by regulatory uncertainty in the United States and Singapore’s strong regulatory framework. Despite potential approval taking up to 24 months, EDX aims to establish its presence in Singapore in 2024.
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