OKX, a cryptocurrency exchange, is looking to France as a regional hub for Europe. It plans to hire 100 people in France in the next 3 years. The company wants to join the 74 companies that have already received regulatory approval by the Financial Markets Authority of France (AMF).

The Seychelles based company has submitted an application to be registered as a Digital Asset Service Provider. Tim Byun said that the company plans to establish “substantial physical presence” in France.

Not only Binance, but also other crypto exchanges are looking to establish a presence in the second-largest country of the European Union. Binance chose France as its hub for the European Union (EU), following its DASP registration, last year. According to its founder Changpeng “CZ” Zhao, the world’s biggest crypto exchange had employed around 150 employees for its Paris office as of September.

In an interview, Byun stated that “we would like to hire 100 employees full-time within three years.” “I would say that we are expecting to hire about 30 people in the first year.”

Byun expects that the registration process could take six months.

The registration process involves ensuring that the company is reputable and follows money laundering regulations. The EU’s Markets in Crypto Assets regulation was unanimously approved earlier this month by all 27 member states. This should make it easier for crypto companies that have been approved in one country, to be able to operate in the entire bloc.

Last month, the AMF proposed that firms registered in France which are already licensed under MiCA licensing can be accelerated to MiCA licensing . This includes stricter rules for governance, consumer protection, and financial stability.

Read more: French senators say that influencers should be allowed to promote registered crypto firms

Sheldon Reback is the editor.