Cryptocurrency exchange, Blockchain, enters US market

Blockchain, the famous UK-based cryptocurrency exchange has announced that it will start providing its services to users in the US. With more options for cryptocurrency exchanges being made available to users, the healthy competition may encourage exchanges to offer users improved services in order to keep their customer base.
Coinbase is the dominant cryptocurrency exchange in the US, providing services in all states except Wyoming, Hawaii, and Minnesota. While Coinbase also has a significant presence in Europe, Blockchain is the dominant exchange in the European region. Based in the UK, Blockchain has recently announced that it will start providing services to customers in the US. Initially, Blockchain will provide services to 22 states and plans on expanding its operations to all states in the future.

With this move, Blockchain and Coinbase come into direct competition with each other. Blockchain has over 22 million wallet accounts and is recognized as the most popular, and oldest cryptocurrency, platform in the market.

The CEO of Blockchain, Peter Smith, estimates that 30 - 40% of users are already in the US and the company hopes to increase these numbers. The latest improvement in the Blockchain platform comes from a partnership with the American company, SFOX. Smith credits SFOX as the entity that laid the groundwork and paved the way for the company’s expansion. The expansion now easily allows the US-based users to sell and buy cryptocurrencies.

The latest expansion of Blockchain is good news for cryptocurrency enthusiasts, as this will provide investors with choices when it comes to exchanges. Just weeks ago, many users had complained about the degraded performance of their exchanges. The expansion of exchanges will encourage some healthy competition which may bring about improved their services offered by exchanges in order to maintain their customer base.
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