New Leadership at OKCoin
Big changes are afoot at OKCoin as Hong Fang, formerly just holding the chairperson title, ascends to the role of CEO. With a resume that boasts experience at Goldman Sachs and a history as an early investor in the cryptocurrency exchange, Fang has got the chops needed for this position. She isn’t just stopping there either; Fang will maintain her role as the COO for the parent company, OK Group. Talk about multitasking!
Transition of Power
Tim Byun, the outgoing CEO, is stepping into the spotlight in a new role as chief global government relations officer for OK Group. It seems like a classic case of a promotion, with Byun paving the way for Fang’s leadership. During his tenure, Byun laid a solid foundation for the exchange’s growth in the U.S. market. Here’s hoping he can lobby the government like a pro in his new role!
Building a Bridge to U.S. Markets
According to Fang, the company has not been sitting idle during the past year and a half. They’ve been busy securing the necessary licenses and facilitating fiat on-ramps for their U.S. operations. “We have successfully built a presence in the U.S., getting our registration with FinCEN as the MSB, and starting to get state licenses, state by state,” Fang explained. Translation? They’re making it easier for people to switch their cash for cryptocurrency, one state at a time.
Future Expansion Plans
With Fang at the helm, the team at OKCoin isn’t just resting on their laurels. They have plans to expand, both in terms of operations and product offerings. “We are at a stage where we are going to expand our presence in the U.S.,” Fang states confidently. This ambition includes heavy recruiting for product development because, as Fang puts it, “the product is really the soul of a company.” Cue the entrepreneurial spirit!
Mark Your Calendars
The leadership transition is set to kick off on March 31, 2020. As Fang takes charge, we’ll be watching closely to see how OKCoin navigates the challenges and opportunities in the bustling U.S. cryptocurrency arena. Will they soar to new heights or get lost in the rush? Only time will tell!
