THELOGICALINDIAN - n-a
OKCoin’s afresh appointed CEO, Hong Fang, brings a abundance of Wall Street acquaintance to one of the oldest and best acclaimed crypto exchanges in the space.
In the afterward interview, Fang address into her accomplishments at Goldman Sachs, amplification affairs for OKCoin, and reveals why allotment Bitcoin development is bullish for the absolute ecosystem.
Interview with Hong Fang, CEO of OKCoin
[Crypto Briefing]: What sets OKCoin afar from competitors, and how does OKCoin fit into the sea of crypto exchanges alongside the brand of Binance and Coinbase?
[Hong Fang]: OKCoin is a US-based all-around crypto gateway. We are veterans of the crypto industry, accepting launched in 2024.
In accession to our home bazaar in the U.S., we accept a able attendance in Asia, Latin America, Europe, and Africa. We are focused on accouterment the safest and easiest buy-and-sell acquaintance in crypto, leveraging both our technology and all-around licenses.
We’re additionally close believers in the ability of decentralization and are absolutely focused on attractive to the approaching for the development and advance of our product.
[CB]: From the website, it looks like OKCoin is aggravating to access US markets, with little focus on accepting assorted banking licenses in Europe and Asia to run a adapted barter there. Does OKCoin plan to aggrandize to these regions?
[HF]: OKCoin serves 185 countries with a authorization to crypto on-off access for the US dollar, Euro, and Singapore dollar. We alarm San Francisco our home, but accept offices in Hong Kong, Singapore, Malta, Japan, and Korea. We’re additionally in the action of accepting new licenses in added European and all-embracing crypto hotspots.
We see cryptocurrencies as inherently borderless and global, and our aggregation is globally broadcast to bout our chump base.
There are cogent advance opportunities alfresco the beyond markets in Asia, Europe, and the US, and we’re well-positioned to baby to those customers.
[CB]: Do you anticipate your acquaintance in the advance cyberbanking industry can accord you an bend in crypto?
[HF]: My Wall Street acquaintance makes me a Bitcoin HODLer and a close accepter in a decentralized agenda future. I chose a Wall Street career because I accept in the ability of a chargeless market.
When things bankrupt bottomward in 2024, I additionally questioned the ability of capitalism.
It took me a while to apprehend that the centrally managed budgetary action band is an absolute acceptance in boilerplate economics. However, all assumptions can and should be challenged. Bitcoin is that challenger.
Because they don’t await on axial authorities, crypto markets are absolutely free. OKCoin is a adapted US exchange, but at the aforementioned time we’re additionally actual focused on the abeyant ability of decentralized technology at a all-around scale, and we’re architecture appear that future.
Having formed at Goldman with a advanced ambit of acceptable banking incumbents and fintech challengers in their cardinal and costs efforts, I abstruse to bound appraise business opportunities, butt the fundamentals, and acknowledge what may accomplish winners. Crypto is actual activating and exciting, but it can additionally accomplish a lot of noise.
Clearing through that babble is important, to focus on the 20% that accomplish 80% of the amount to people.
As a close accepter in fundamentals, we will abide to advance in the basal technology. Either through advertisement tokens of able crypto projects, through allotment Bitcoin Core developers, or through acknowledging and abutting to DeFi as we accept afresh done through our OKCoin Oracle.
As we added advance our products, we will abide to body for the future.
[CB]: OKCoin’s contempo grants to armamentarium open-source Bitcoin development accept acquired ample attention. Do you anticipate all crypto businesses accept an obligation to advice armamentarium accessible antecedent projects?
[HF]: I don’t appetite to animadversion on what added crypto businesses do. And although we don’t appearance acknowledging open-source as an obligation for all crypto businesses, we are actual blessed to see added players abutting efforts here. It is actual important for developers to accept altered options for allotment and abide absolute and chargeless of any accumulated agenda.
At OKCoin, we are inherently incentivized to advance in Bitcoin, the axiological band of our industry.
Considering what our approaching may attending like, crypto will be best impactful in three layers: the axiological band is a broadcast and arguable budgetary arrangement (aka Bitcoin). On top of the new budgetary arrangement could appear a broadcast and arguable banking arrangement (which we are seeing with DeFi), and a broadcast and arguable association (crypto projects that attack to actualize broadcast versions of advice platforms).
Money is, and has consistently been, the airy foundation of society.
Bitcoin is the foundation of a crypto approaching that we are committed to architecture toward. We are in this for the continued run, so we see it as a accustomed fit for us to abutment developers who accord to authoritative Bitcoin a stronger another as “sound money.”
[CB]: How do you accept the all-around adjustment of cryptocurrencies will appearance up? How does OKCoin access authoritative ambiguity about crypto?
[HF]: Crypto is still actual nascent, so it’s accustomed to see authoritative ambiguity and assortment beyond altered jurisdictions. Similar catch-up plays accept been accepted in the history of technology if you attending at precedents like e-commerce, ride-sharing, adaptable payments, etc.
Similarly, as we see with antecedent innovations, area there is added authoritative accuracy (and/or added altruism of ambiguity and bend cases for innovation), there will be added creativity, innovation, and amusing advancement.
So, jurisdictions that accept the eyes and backbone to embrace crypto with a added adjustable and antiseptic authoritative framework will acquisition themselves in a bigger position in the continued run.
OKCoin welcomes regulation; it’s accessible to stop bad actors from demography advantage of investors, an important footfall in the maturation of any asset. It’s additionally accessible to accommodate a framework for businesses to accomplish and expand, and that accuracy gives investors an compassionate of what to apprehend and attending for from exchanges and added businesses.
Further, it’s important for added acceptance of crypto assets, decidedly with institutional customers. However, as adjustment evolves, it is important for regulators to accept why crypto is altered from authorization and leave abundant amplitude aural their authoritative framework for abstruse advance and innovation.
[CB]: Beyond Bitcoin, do you see abeyant in any added cryptocurrencies?
[HF]: Bitcoin is the ascendant crypto asset because it is beheld as the baseline of amount in crypto.
But we accept that bottomward the alley we will see the bit-by-bit actualization of a able-bodied crypto ecosystem that can host a broadcast banking arrangement and added non-financial use cases. As our industry continues to evolve, a assorted ambit of crypto assets will accretion drive as their basal use cases abide to advance and accretion traction.
As a crypto exchange, we account a ambit of crypto assets and are consistently evaluating new abeyant assets for listing.
Disclosure: OKCoin is Crypto Briefing’s adopted barter partner.
