Decred ($DCR), a rising store-of-value orientated token, is hoping to target U.S., European, and Australian investors by listing on crypto exchange OKCoin with a USD pairing - an uncommon move for an altcoin.
While there is already a direct conversion into Brazilian real for the large Decred community there, project lead Jake Yocom-Piatt told The Block that the U.S. dollar's global weight would help boost "access" to the token and its long-term usability.
While Chinese-founded OKCoin relaunched and expanded into the U.S. in mid-2018, only California-based users can currently complete fiat-to-token trades. International users hoping to buy Decred using USD will also be beholden to local regulation, with OKCoin having previously been forced to suspend USD withdrawals and deposits.
Perhaps most pressing is how sustainable the pairing will be. Decred may face pressure in future to boost trading volumes to avoid being delisted, with OKCoin's own subsidiary, OKEx, having been accused of making similar demands following an investigation by The Block.