Cryptocurrency exchange Binance this Wednesday announced it is expanding its presence in the European market with the launch of a new crypto-fiat trading platform. About writes this Cointelegraph.
Binance Launches New Crypto-Fiat Exchange In Europe With Pound And Euro Support
According to a press release, the new platform will be named Binance Jersey and will support the ability to exchange Euros and British Pounds for Bitcoin and Ethereum. Access to crypto-fiat pairs BTC / GBP, ETH / GBP, BTC / EUR and ETH / EUR will be provided to users after passing the verification.
According to Binance, new opportunities for investing in cryptocurrencies in European markets could give their participants “freedom in the face of Brexit-related uncertainty, which puts the euro and pound themselves at risk.”.
As the name suggests, the new trading platform is registered on the island of Jersey, which is the UK’s crown domain. “Binance chose Jersey because of its highly developed digital infrastructure, strong regulatory framework and industry financial services world-class “, – quotes CoinDesk as the words of CFO of Binance Wei Zhou.
Zhou says Binance Jersey is an independent entity but uses technology from the parent exchange Binance.com.
Binance partners with government economic development agency Digital Jersey in June 2018 of the year. Binance CEO Changpeng Zhao then said: “Since the local economy is based on a large currency (the British pound), and the jurisdiction itself is close to the UK and Western Europe, we are confident that cooperation with Jersey will have a positive effect not only on the local economy, but will also help to establish reliable operational basis for further expansion of our company in Europe “.
UPD: According to the Binance Jersey rules of use, the exchange accepts users only from those countries whose names are present in the registration form, where there is no Russia, and from the CIS countries there are Armenia and Azerbaijan.
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