Chinese Bitcoin Traders Could Benefit From OKEx, Huobi-Pro P2P Trade Launch
Overseas-based Chinese brands launching Bitcoin p2p trading could let domestic traders in on the deal.
China’s Bitcoin traders could return to their favorite exchanges if rumors regarding OKEx and Huobi-Pro come true.
According to local news feed cnLedger, the two umbrella exchanges are “soon to launch” p2p Bitcoin trading with support for fiat currencies including the yuan.
“We believe they'll support CNY and some others,” the resource tweeted Monday.
We believe they'll support CNY and some others like USD, JPY ...— cnLedger (@cnLedger) October 30, 2017
The timeliness of the information is poignant, coming just before the last Chinese-only exchanges shut their doors due to a government ban on crypto-to-fiat trading.
While both OKEx and Huobi-Pro are international non-China based operations not subject to the domestic ban, cnLedger hints that through undisclosed mechanisms both could ultimately give access to Chinese traders.
“They are registered outside China, and are operating independent of OKCoin (at least they claim so... you get the idea),” it wrote in a follow-up response.
OKEx itself set the ‘wink-wink, nudge-nudge’ tone when announcing its future plans after the Oct. 31 shutdown deadline.
At the weekend following the Communist Party Conference a new exchange, ZB.com announced it would offer full functionality from Nov. 1, with details nonetheless remaining sketchy.
Last week, Cointelegraph reported on the surge of interest from extradited Chinese exchange operators in setting up new bases elsewhere in Asia and notably Japan, where local platform Quoine said it had been unable to service the level of interest.
Bitcoin meanwhile continues to hold above $6000 Monday as Chinese optimism swells, and the threat of the SegWit2x hard fork continues to create tension and opportunities for short-term traders.