In order to join the 74 other businesses that have already received regulatory clearance from the nation’s Financial Markets Authority (AMF), cryptocurrency exchange OKX is targeting France as a regional hub in Europe. The cryptocurrency exchange aims to hire about 100 people there over the next three years.
Cryptocurrency Exchange OKX Expands to France! Target to Provide Employment for 100 People!
The company with its headquarters in Seychelles, has submitted an application to register as a Digital Asset Service Provider (DASP). The corporation intends to build a substantial physical presence in France, according to Tim Byun, head of worldwide government relations.
We would aspire to hire 100 full-time employees within three years. I think in the first year, we forecast hiring about 30 colleagues.Byun
OKX is Not the Only Exchange Targeting France
There are other cryptocurrency exchanges looking to establish a presence in the second-largest economy in the European Union. Following its DASP registration, France last year became Binance‘s first candidate for a hub in the European Union. Founder CZ stated that by September, the largest cryptocurrency exchange in the world had engaged about 150 individuals for its Paris branch.
About the Registration Process
Byun stated that he anticipates the registration procedure to take up to six months. By registering, businesses can be certain that their management is trustworthy and that they adhere to money laundering regulations. Since all 27 EU member states unanimously voted to accept the Markets in Crypto Assets (MiCA) rule earlier this month, it should now be simpler for cryptocurrency companies that have received regulatory clearance in one nation to operate throughout the entire EU.