Okcoin, a cryptocurrency trading platform, migrates to the city of Miami where it will establish a 10-employee office in the Brickell area. Okcoin will expand in Miami to serve its growing Latin American customer base.
“Our new Miami location is a strategic expansion that enables us to meet the rapid increase in Latin American cryptocurrency adoption while also complementing Mayor Suarez’s commitment to making the city a hub for technology development,” said Hong Fang, CEO of Okcoin.
With the news of the new headquarters, Okcoin becomes the latest company to announce operations in Miami, whose mayor is a passionate promoter of cryptocurrencies and technology.
In Miami, Okcoin plans to launch an internship program for both locals, and remote applicants. The company has also become the first crypto company to sponsor “ShellHack,” a hacker competition that brings together more than 1,000 software programmers once a year. ShellHack will be held in September, between the 24th and 26th at Florida International University.
The tournament will include challenges focused on the use of Lighting Network, a software that makes Bitcoin transactions more efficient. Winners will receive $1,000 in Bitcoin, a mentorship, and the opportunity to intern with Okcoin.
“We are excited about Okcoin’s commitment to local talent and the innovation ecosystem,” Mayor Suarez said in a statement. “Their active corporate presence will help us open more financial and professional doors for our residents.”
Okcoin will also be the first cryptocurrency exchange to be part of MiamiCoin, the City of Miami’s cryptocurrency, launched by the CityCoins platform as a project that allows people to invest in a city through the purchase of tokens (cryptocurrencies).
As a good cryptocurrency, the “MiamiCoin can be mined or bought by individuals who want to support the Magic City and earn crypto from the Stacks protocol. MiamiCoin additionally benefits holders by allowing them to Stack and earn BTC through the Stacks protocol,” according to the CityCoins website.
The city of Miami in the spotlight of all crypto-businesses
After the celebration of Bitcoin 2021, Miami was in the spotlight as a new tech hub, as the conference attracted the attention of thousands of crypto-enthusiasts, as well as entrepreneurs and start-up investors.
Other cryptocurrency exchanges, such as Blockchain.com, eToro or XBTO, have already announced that they will open offices or move their headquarters to the city of Miami. Investment funds in cryptobusiness start-ups have also begun to migrate to the city, as is the case of BlockTower Capital, a fund that focuses on cryptocurrency and blockchain investment, a fund that was originally located in New York, but decided to move its location to the Brickell area in Miami.
Miami not only attracts crypto-investors, but tech investors in general. Fin-Tech SoftBank earlier this year announced it would establish a $100 million fund for tech startups located in the city.
Factors such as a lax tax policy, the work-at-home revolution, climate and business-friendly environment are making Miami an increasingly attractive area for financial technology businesses, allowing Florida’s sunny capital to become the new Sillicon Valley of Fin-tech.