On May 20, 2019, OKCoin announced via the social media of Twitter that it will be collaborating with Prime Trust, a Blockchain driven trust company to Launch Prime Trust as a new USD payment channel.
According to the tweet, OKCoin users outside the United States will now be able to deposit US dollars quickly, and for free.
We partnered with @PrimeTrustCo to launch Prime Trust as a new USD payment channel. Now OKCoin users outside the US can deposit US dollars quickly, easily and completely free! https://t.co/hyCjwg2bJT pic.twitter.com/96BokQFmMc
— OKCoin (@OKCoin) May 20, 2019
Along with the information, the tweet also includes a link to a blog post regarding the same, published on April 20.
As per the post, users outside of the US and Europe will be able to transfer money with a minimum of at least a $100 per transfer. While depositing funds through Prime Trust is free of charge, while making a withdrawal, the customers will be entitled to pay a fee of $35. It also mentions that there might be a processing fee or bank charge involved while transferring funds from or to Prime Trust; however, this fee will not be coming from OKCoin.
One might need to refer to their up-to-date bank policy in order to solve any questions concerning transfers and potential fees allied with the bank provider.
Prime Trust provides custody, funds processing, AML/KYC compliance, real estate, & IRAs, crowdfunding portals & asset protection to ICOs.
Users can visit the Fiat Deposit/Withdraw Options announcement page of the website for OKCoin to facilitate information about the available payment channels.
OKCoin is a digital asset trading platform headquartered in Beijing, China which provides spot trading services between digital assets like Ethereum, Litecoin, Bitcoin and fiat currencies like the to Japanese Yen, US dollar, and Euro to customers all around the world.