BTC China follows OKCoin to accept USD
BTC China has announced that they are adding both USD and HKD (Hong Kong dollar) bitcoin trading. BTC China made their official announcement on social sharing website Reddit on Monday, effectively making them the first China-based exchange to accept three Fiat currencies in USD, HKD and CNY.
The news comes just a few days after another Chinese exchange – OKCoin – communicated they will be accepting USD.
The addition of new currencies represent BTC China’s intentions to expand their client based outside of mainland China. In addition to that, many Chinese exchange are trying to set themselves free from regulations imposed by People’ Bank of China. The move may also be influenced by a rumored opinion that interest in cryptocurrencies in China is in decline.
The services was launched after an invite-only period. During the trial stage, BTC China collected several million USD worth of deposits. The new service will run via BTC China’s registered Hong Kong affiliate. Hong Kong, which does not impose such restrictions as national Chinese bank, is an ideal place to serve the Chinese, local and international markets.