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OKCoin

OKCoin

OKCoin is a digital asset trading platform providing spot trading services between the US dollar, Euro, and Japanese yen as flat currencies, and Bitcoin, Litecoin, Ethereum and other digital assets to customers around the globe.

History

OKCoin was founded by CEO Star Xu in 2013 and has raised US$10 million in investments from Ceyuan Ventures, Mantra Capital, Ventures Lab and other notable private investors including Silicon Valley investor Tim Draper. From December 2014 until May 2015 OKCoin managed the domain bitcoin.com, and stopped due to a dispute with the domain-owner, Roger Ver. As of August 2016, OKCoin was the largest Bitcoin exchange in the world with a volume of over 16,000,000 Bitcoins per month. In February of 2017, OKCoin and Huobi, the two largest Bitcoin exchanges in China, were flagged by the People’s Bank of China for operating a trading platform without appropriate Know Your Customer (KYC) and Anti-Money Laundering (AML) systems. In April 2017, OKCoin stopped accepting the US dollar. In the same month OKcoin joined Bitfinex in freezing wire transfers, citing ‘issues’ with intermediary banks. In May 2017, OKCoin, were accused of using idle clients funds to make investments in “wealth management products“ which are often high-yielding and risky. In September 2017, OKCoin announced that it would stop Yuan-to-Bitcoin trading by the end of October. On May 23, 2015, OKCoin made public a contractual dispute the company was having with Roger Ver over the management rights to the domain name "bitcoin.com."

Timeline

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Chris Lee

Justin Leung

Lennix Lai

Tim Byun

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