Cryptocurrency exchange OKX is planning to establish a physical presence in France and hire around 100 employees in the next three years.

The company has filed an application to become a Digital Asset Service Provider and hopes to join the 74 other companies that have already received regulatory approval from the country's Financial Markets Authority.

OKX is not the only crypto exchange seeking a base in France, as Binance also chose the country as its European Union hub last year. The registration process for OKX is expected to take up to six months and involves compliance with money laundering standards and reputable management.