OKCoin Exchange Moves COO to CEO to Oversee Expansion In The US, Asia, and Europe

The OKCoin chairman Hong Fong has been named as the crypto exchange’s new CEO, seeing as a US, Europe and Asia expansion is in the cards.

The announcement was made on Friday. Fong is also the company’s chief operating officer. She will take CEO Tim Byun’s place starting March 31. Her main objective will be to develop the firm’s cryptocurrency-related products in the US states, Europe and Asia.

Byun to be a GGRO for the OK Group

Byun will become a global government relations officer (GGRO) for the OK Group, the parent company of OKCoin. He will be in charge of maintaining the communications open with governments and regulators from all over the world, and of global growth. Before starting to work for the OK Group, Byun was BitPay’s chief compliance officer. Prior to that, he was the head of credit settlement risk and an anti-money laundering officer of Visa. According to his profile on LinkedIn, he worked here for 5 years. Here’s what an OK Group spokesperson said about the changes that are being made:

“As a foremost regulatory expert in the crypto industry, Tim Byun will take on the new GGRO role. We will be able to better leverage his expertise across all units of business within the Group.”

Fong Joined the OK Group Only Recently

The OK Group was founded in China and includes many blockchain and crypto businesses related to enterprise blockchains, trading and mining. It has started shifting its focus towards blockchain technology ever since the government of China banned crypto trading, back in 2017.

Fong came at the OK Group in September 2019, after being the Chinese gaming company Giant Network’s leader of investment portfolios and strategic growth. Besides, she has also contributed to the Goldman Sachs’ mergers and acquisitions, restructuring and capital markets division.

Byun was of great help for the San Francisco-based OKCoin’s US office opening from 2017. He also supervised the exchange’s operations in the US. OKCoin has money transmitter licenses in many US states, offering its fiat-crypto trading services in the country since 2018.

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