OKCoin appoints new CEO as it prepares for global adoption

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Global cryptocurrency exchange giant OKCoin has appointed a new CEO as part of its preparation for increased adoption.

The exchange announced that Hong Fang, who has served as OKCoin’s chairman, will take over the reins from former CEO Tim Byun. A former banker with Goldman Sachs, Fang will be tasked with pushing the exchange to the next level as it seeks to integrate the emerging crypto regulations.

Fang will take over from Byun who will now serve as OKGroup’s global government relations officer, effective March 31. In his new role, Byun will spearhead the exchange’s efforts to maintain “constant dialogues with governments and regulators worldwide.” He will also be in charge of the exchange’s geographical expansion.

Byun anticipates that more governments will finally formulate crypto regulations in the near future, and in his new capacity, he will seek to ensure the exchange is prepared for this.

In a press release shared with CoinGeek, he remarked, “As we enter a new decade, the crypto industry will truly become more global and ubiquitous with the collaboration of governments, especially those that have evolved from a wait-and-see-approach to developing new regulatory frameworks, such as Singapore, Germany and France. I’ve always believed that working transparently with governments and regulators is vital to helping OKCoin and the overall crypto ecosystem to grow in a safe and sound manner.”

On her part, Fang expressed excitement at her new role, pledging to make OKCoin a critical first step for crypto newbies. “We want to make it easy and safe to buy and sell crypto assets with fiat anywhere in the world, because that is the very first step (and a fundamental component) to building an open and inclusive financial system. This goal has never changed for us,” she commented.

Fang joined the firm in July last year as the OKGroup COO and the OKCoin chairman. A banker and growth equity investor by profession, she has played a key role in establishing the OKGroup’s international headquarters in San Francisco. She was also behind the exchange expanding its fiat-to-crypto trading service in more U.S. states.