OKCoin, one of the oldest exchanges in China, is continuing its crypto substitution business expansion, announcing on March 30 that it has officially secured licensing in Nihon.

OKCoin has been anticipating this day

Per its announcement, OKCoin Japan has completed its registration with the Kanto Local Finance Agency. Co-ordinate to the firm, this makes OKCoin the first international exchange to obtain a cryptocurrency exchange license through the official application procedure in Japan.

OKCoin Japan said that ever since its institution in September in 2022, it has been preparing itself to exist in a position to attain a business organization framework that can comply with Japanese law.  OKCoin marketing managing director added that:

"OKCoin wants to get recognition from the Japanese potency in terms of their own technologies, products, teams, compliance & regulation organisation and internal management system, etc., in this way, they finally get approved by the license."

OKCoin has been expanding its global presence since 2022

OKCoin is now officially headquartered in San Francisco and has a number of offices worldwide including Malta.

OK Group has expanded its business bases in Red china, the United States, Europe, Malaysia and the Philippines since its establishment in 2022. With the expansion in Japan, the blockchain company is ready to utilise over 1,000 globally, OKCoin says.

Before OKCoin Japan's exchange officially launches, users tin can now pre-annals past visiting the firm's chief site to create an account. It will back up the Japanese Yen and deal with major crypto assets, including BTC, ETH, ETC, LTC, and BCH.

As Cointelegraph reported previously, OKCoin added support for the Singaporean dollar earlier this month. It is the tertiary fiat currency supported by OKCoin after the United States dollar and euro.