OKCoin Raises $10 Million to Become China's 'Largest Exchange'
OKCoin, the exchange claiming to be China's largest by trading volume, has announced a $10m Series A funding round. The investment round was led by Ceyuan, one of China's earliest venture capital firms, followed by Mandra Capital, VenturesLab and numerous high-profile angel investors. Despite the nation's recent crackdown on cryptocurrencies, it seems Chinese venture capitalists are still bullish on bitcoin exchanges and the currency itself. Bitcoin in China. Back in November 2013, the focus of the bitcoin community was on China - the world's hub for bitcoin trading. At that time, BTC....
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China's largest bitcoin exchange by volume OKCoin has announced that it's raised $10 million in Series A VC funding, according to Chinese site Kuailiyu (first reported in the community by CoinDesk). China's own Ceyuan Ventures led the round, and was joined by Mandra Capital and VenturesLab along with other entities. According to the exchange's CEO, Star Xu, a bulk of the funds will be invested into team-building at the exchange, which currently sees a trade volume of about 50,000 bitcoins daily. In addition, the funds will be used for research and development purposes, security....
China has gone through an official crackdown on Bitcoin; however unofficially chinese investors are still very bullish. Bitcoin has outperformed every other investment over the past five years and China clearly wants to be very much a part of it. OKCoin, China's largest exchange by trading volume, has announced a $10 Million trading round. The $10 Million was put together initially by Ceyuan, a venture capitalist specialising in early investments as well as Mandra Capital, another growth and development stage investor, and VenturesLab, yet another early investor. These high profile....
Changpeng Zhao, Blockchain's former Head of Development, has left the company after a few months to become Chief Technical Officer at China's largest bitcoin exchange, OKCoin. Zhao said that, while many might be surprised at his move, for him it was a simple decision: "OKCoin is already the best bitcoin exchange in China, if not in the world. We plan to make OKCoin truly international. OKCoin has the best technology platform, safest security measures, and above all the best team. We also have highest volume and liquidity, the fastest deposit and withdraw processing, and the best customer....
OKCoin, one of the two Chinese Bitcoin exchanges, is demonstrating progress in sorting out user fund withdrawals. On Feb. 9, it was requested by the People’s Bank of China (PBoC) to halt Bitcoin and Litecoin withdrawals. On March 1, OKCoin told their users that the exchange is approving the transfer of user funds stored on the global OKCoin trading platform to their Chinese site because the company’s .CN platform is nearly ready for approval by the PBoC and relaunch. Earlier in January, the PBoC asked OKCoin and Huobi, two of the largest Bitcoin exchanges in China, to suspend trading until....
Just when you thought things in China couldn't get any more confusing, OKCoin - a bitcoin exchange in the country - announces a bitcoin ATM. A Chinese news-blog posted the first report on the topic on Monday, making note that the exchange would be showing off their own ATM creation at the Global Bitcoin Summit 2014 conference taking place in Beijing from May 10th-May 15th. More specifically, the ATM (which is said to be more like a vending machine in that it only dispenses bitcoin) will be at the OKCoin booth, for those in the area looking to sneak a peak. Also of interest, while we're on....