OKX Plans to Hire 100 for Crypto Hub in France

OKX Plans to Hire 100 for Crypto Hub in France

Cryptocurrency exchange OKX applies for a Digital Asset Service Provider license to establish a physical presence in France and hire around 100 employees in the next three years, joining other companies that have won regulatory approval from the country’s Financial Markets Authority.

OKX has applied for a Digital Investment Service Provider license to join dozens of corporations that have already won approval.

Digital currency exchange OKX is targeting France as a regional hub in Europe with intends to hire around 100 people there in the following 3 years, looking to join 74 other corporations that have so far won regulatory approval from the country’s Financial Markets Authority (AMF).

The Seychelles-based company has filed an app  to become registered as a Digital Investment Service Provider (DASP). It intends to set up a “substantial” physical presence in France, the company’s head of worldwide Government relations, Tim Byun said.

It’s not the only cryptocurrency exchange seeking a base in the European Union’s second- largest economy. France a year ago resurfaced as the destination of choice for Binance Crypto exchange as a European Union (EU) hub following its DASP registration. The world’s largest cryptocurrency exchange had hired around 150 people for its Paris office by September, reports by founder Changpeng “CZ” Zhao.


“We would aspire to hire 100 full-time employees within 3 years,” Byun stated an interview. “I think in the 1st year, we forecast [hiring] about 30 colleagues.”

Byun stated he expects the registration process to take up to 6 months.

Gaining registration involving checks that corporations comply with money laundering standards and have reputable management. With the EU’s Markets in Cryptocurrency Assets (MiCA) regulation unanimously approved by the 27 member states earlier these 30 days, going forward it should be easier for cryptocurrency corporations who have obtained approval in one country to operate across the whole bloc.

The AMF suggested the previous  30 days that existing registered corporations in France may be fast-tracked to MiCA licensing, which includes tougher regulations on governance, consumer-protection and financial-stability.

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Sheldon Reback.


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