Gate.io, a cryptocurrency exchange founded in 2013, has finally launched its spot trading services in the United States. This marks a significant step for the company and reflects a broader trend of crypto firms returning to or entering the US market.
A Wave of Crypto Firms Entering the US
The move comes as US regulators work to clarify and implement new rules for the cryptocurrency industry. This clearer regulatory landscape is encouraging companies to set up shop in the US. Gate.io says it’s designed its services specifically to meet the needs of US customers. They aren’t alone; OKX, for example, recently re-entered the US market after a settlement with the Department of Justice. There’s even talk of OKX pursuing an IPO in the US.
Gate.io’s Founder on the US Launch
Gate.io’s founder, Lin Han, sees the US launch as a key part of their global strategy. He believes that strong local integration is crucial for the future of crypto. The company aims to build a trustworthy global network focused on users and technology.
The US Crypto Scene: A “Golden Age”?
The recent influx of crypto businesses into the US is a positive sign, according to some key figures. SEC Chair Paul Atkins has called for the US to bring back crypto companies that left due to regulatory uncertainty. Meanwhile, Treasury Secretary Scott Bessent declared a “golden age of crypto” in the US, encouraging entrepreneurs to start businesses, launch protocols, and hire workers within the country.
A Temporary Dip in Trading Volume
Interestingly, Gate.io saw its 24-hour trading volume drop by over 11% to about $5.82 billion. This is likely due to lower overall investor activity and falling cryptocurrency prices.