Cryptocurrency companies can't stay away from Miami.
On Tuesday, Okcoin, a cryptocurrency trading platform headquartered in San Francisco, announced it opened an office in Brickell as a hub for its 10 Miami-area employees. Okcoin plans to grow its local footprint and service its growing customer base in Latin America from the new location.
It's the latest cryptocurrency firm to establish a Miami office after Mayor Francis Suarez, a crypto advocate, kicked off a campaign to recruit financial technology businesses and jobs to the city.
"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 Okcoin CEO Hong Fang.
Okcoin plans to add more local employees and launch an internship program for Miami-area and remote candidates in an effort to support the city's burgeoning tech sector. The company signed on as the first-ever cryptocurrency sponsor of ShellHack, a hackathon that brings together more than 1,000 software programmers each year. This year's ShellHack will take place at Florida International University Sept. 24-26.
The firm's sponsorship will include a challenge focused on the Lightning Network, software that enables efficient bitcoin transactions. First-place winners will receive $1,000 in bitcoin, mentorship, and the chance to intern at Okcoin's Miami office next summer.
“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 is the first cryptocurrency exchange to list MiamiCoin, the city's digital currency. Miami recently partnered with CityCoin, a crypto firm that launches digital assets that support municipalities, to debut the virtual currency in early August. The goal is to use the funds generated by MiamiCoin to support city services and initiatives.
Founded in 2013, Okcoin builds tools to help consumers invest in and trade Bitcoin and 25 other cryptocurrency assets. The company reports it has millions of customers across 190 countries and international offices in Hong Kong, Singapore, Malta, Japan and Korea.
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