OKX, one of the world’s leading digital currency trading platforms, announced the establishment of OKX Bahamas, a regional hub that will be tasked with serving clients in the country, the Bahamas and the rest of the Latin American world.

The trading platform said it created the office in the Bahamas following its registration as a Digital Assets Business in the Bahamas under the recently adopted Digital Assets and Registered Exchanges (DARE) Act. The company said it is now relying on the progressive regulatory push from the Bahamas Securities Commission to extend its influence in the country.

OKX also announced the appointment of blockchain industry veteran Dr. Jillian Bethel, an industry veteran to serve as CEO of OKX Bahamas. Jillian is not just an expert in the space, he understands the regulatory permits available in the Bahamas and is in the best position to help navigate the business platform issues.

“The DARE Act has made the Bahamas a pioneer in the adoption of digital assets, and I am proud to lead the OKX Bahamas team in advocating for cryptocurrencies,” CEO Bethel said in a statement. “As a gateway to the Caribbean and the broader Americas, the Bahamas is opening new doors for local talent and global companies to thrive here with forward-thinking policy.”

The lure of the Bahamas has pushed big platforms in the ecosystem, including the FTX Derivatives Exchange, to move their headquarters there last year after Hong Kong took a radical stance on the industry.

Newly acquired Huobi Global Exchange has also been considering plans to shift its base from the Seychelles to the Caribbean Islands with the Bahamas among the top destinations according to a previous report by Blockchain.News.

OKX has been increasing its global presence over the years and beyond the Bahamian licences, the exchange has also gained approval to operate in Dubai.

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