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It's a new giant of the industry that lands in Paris. As we revealed on May 11 (read here), the exchange platform OKX has set up shop in the French capital. This Tuesday, the company officially announced that it has taken up offices and filed with the Autorité des marchés financiers (AMF) its registration to become a PSAN (service provider for digital assets).
"We want to accelerate in Europe and Paris is the best place to do so," explains Tim Byun, head of government relations for the platform, which does not yet have a registration in Europe. The company is in discussion with the Maltese authorities, but "Paris is definitely the priority for us," confirms Tim Byun.
OKX is considered one of the biggest exchange platforms on the planet. Founded in 2017, the company claims just over 50 million users worldwide, mostly in Asia, the Middle East and Europe, where it precisely wants to expand. "The European Union is an important market where there is stability and visibility thanks to the MiCA regulation," explains Tim Byun.
European headquarters in Paris
OKX set up offices in Paris in April. "The quality of the crypto ecosystem was a big factor, but it wasn't the only point. The presence of many universities and a lot of talent was also a factor," explains Tim Byun.
"This decision reinforces our aspirations to become a key player in Web3 technologies. The choice of OKX is a testament to the success of the policies put in place by the French government to encourage the development of an innovative, resilient and secure crypto sector," said Jean-Noël Barrot, Minister of Digital Affairs.
In one year, Paris has attracted several industry giants such as Binance and Cryptocom platforms, as well as USDC stablecoin issuer Circle.
According to our information, OKX, which employs 3,600 people worldwide, also plans to make Paris its European headquarters. The company will hire about 30 people in the next twelve months. This figure could be even higher if the markets accelerate.