OKX to open Turkey office

Cryptocurrency exchange OKX announced plans to open an office in Turkey in the coming months.

The statement was made ahead of the Blockchain Economy 2023 conference in Istanbul. During the event, OKX president Hong Fang, Chief Innovation Officer Jason Lau and Chief Marketing Officer Haider Rafique will present the company’s expansion plan and discuss the advantages of the jurisdiction for business.

“Turkey is a growing hub of blockchain innovation and know-how with a user base that shows strong interest in cryptocurrency. We believe that a physical presence in the country will help us better understand our customers’ needs and foster the growth of the crypto community,” said Lau.

According to Fang, the opening of the unit in Turkey marks ‘a transition from a trust-based system to a business that allows users to control their own financial future’.

Back in March, OKX filed an application for a trading licence in Hong Kong. Company representatives noted that preparations for the opening had been under way for a year.

In the same month, the platform ceased serving users in Canada. According to the statement, the measure is temporary, and the company ‘is working with regulators on a resolution to this problem’.