The exchange intends to launch its Chinese subsidiary dubbed Tabi no later than March.
Apart from China, DBX also seeks to branch out into other countries, including the US.
The Chinese government has approved a South Korean crypto exchange to operate in the country despite barring all local crypto trading services. A report unveiled this news on February 7, noting that DBX had become the first South Korean crypto exchange to establish a subsidiary dubbed Tabi in China. Reportedly, Chinese authorities granted the exchange a corporation establishment license.
According to the report, DBX got initial approval from the Chinese government on December 28, 2020. After this, the exchange received a certificate of incorporation on February 5, making things official.
How far will the Bitcoin train go with the 2020 year-end holidays approaching?
If you know any crypto enthusiasts or follow any on social media, you probably have already heard but on Dec. 17. 2020 Bitcoin rallied more than 12% to break the $23,000 for the first time on record.
The response among HODLers has been enthusiastic, to say the least.
“Finally, BTC is nearing its true value and everyone who said I’d wish I’d bought BTC for $600 will be saying the same about BTC at $19,000,” said Jillian Godsil, Blockchain Chair, Keynote, Journalist, Broadcaster, CEO, and Writer of recently published blockchain book “Persons of Interest”.