Minister of Economic Affairs Michael Halkitis said in a statement that the world’s second largest cryptocurrency exchange OKX is committed to growing the digital assets space in The Bahamas.
The statement explained that OKX is the lead sponsor of the upcoming and inaugural D3 Bahamas Bahamas Fintech Festival, being put on by the Securities Commission of The Bahamas (SCB).
OKX recently became a licensee of the SCB under the Digital Assets and Registered Exchanges (DARE) Act.
Halkitis and a team from the Ministry of Economic Affairs dropped in at OKX’s offices while visiting Singapore recently for the Society of Trusts and Estates Practitioners (STEP) Asia Conference, according to the statement.
Halkitis said the government has embraced OKX as it continues to move quickly to turn The Bahamas into its regional fintech hub.
“As we move forward with our agenda of economic growth and diversification, we are fully embracing the digital economy opportunities coming through the various fintech, digital assets, and Web3 based businesses that are interested in The Bahamas, due to our robust financial services and digital assets legislative framework,” said Halkitis.
He added: “While we were in Singapore for the STEP Asia Conference, it was very important for us to take the time to visit OKX as a
major investor in The Bahamas.
“OKX has demonstrated a commitment to The Bahamas with its recent appointment of a Bahamian CEO, Dr. Jillian Bethel, and the hiring of Bahamians in key positions.”
Given the recent collapse of the Bahamas-domiciled FTX, which only became a DARE registrant one year ago, Minister Halkitis said it is important that “investors like OKX continue to show an interest in establishing a foothold in The Bahamas” and hire Bahamians at the highest level.
“These are the kinds of high-level employment opportunities we believe will become the norm, given The Bahamas’ high levels of talent and ideal regulatory environment for fintech,” he said.
“We are very keen to maintain relationships with investors like OKX, who are setting the pace with the inclusion of Bahamians at every level of the organization.”