OKCoin, known as the largest cryptocurrency exchange in China, has decided to open shop in South Korea. Following Huobi’s footsteps, they are ready to launch their trading exchange in South Korea. NHN also a big name, has partnered with OKCoin. NHN owns Hangame.com, which is one of the biggest game developers in South Korea. It is said that OKCoin will offer more cryptocurrencies than any other trading platform in South Korea. They even plan to offer more than Bithumb and UpBit. OKCoin will be playing the game with these big names, and are up for a challenge. Therefore, their partnership with NHN will help them to compete in the market, so they can mark their territory. NHN will assist OKCoin by utilizing resources and capital to address the market. OKCoin also plans to make 60 cryptocurrencies available on their platform. Currently, the company has 100 developers on board and they are looking to be an exchange that is different from any other. South Korea is a substantial market to penetrate, and OKCoin has made the right choice by moving there. Because of the strict rules and regulations, many crypto exchanges have moved elsewhere. Many other trading platforms have claimed their interests in the South Korean market and about 10 more will be joining OKCoin. These exchanges are optimistic that the South Korean government will not restrict trading cryptocurrencies. “It is not realistically possible,” a member from the South Korean Fair Trade Commission stated in regards to a potential ban on digital currency. This is just the start for South Korea, and we are anticipating an exponential growth in market penetration.
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