OKX secures Bahamas registration.

The cryptocurrency exchange OKX has registered in the Bahamas as a digital asset company.

Announcement

ICYMI: #OKX continues its global growth journey by expanding to The Bahamas & opening a regional hub in Nassau

Meet the leadership for OKX Bahamas ↓

— OKX (@okx) November 3, 2022

The company has been registered in accordance with the DARE Act. It created a subsidiary OKX Bahamas with an office in Nassau and appointed Jillian Betel as its chief executive.

The platform plans to hire at least 100 employees.

In the wake of the news, the OKB token rose 24.6% over the last 24 hours, according to CoinGecko. At one point the asset price reached $23, but has since corrected to $20.

In September 2021, the Bahamas Securities Commission registered a digital-asset business subsidiary of the crypto exchange FTX. According to the company, FTX Digital Markets was the first in the jurisdiction to obtain a license under the DARE Act.

Later, Sam Bankman-Fried’s platform moved its headquarters from Hong Kong to the Bahamas due to the favourable regulatory position. However, in October 2022 he allowed the relocation of its headquarters to the United States.

In July OKX received a license in Dubai and announced plans to open a regional headquarters in the emirate.

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