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blakicious

Binance added Europe and United Kingdom fiat pairs on new exchange

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Largest crypto exchange by adjusted trading volume, Binance has launched a new fiat-to-crypto exchange: https://www.binance.je/.

On Wednesday, they revealed that the new exchange was created to serve traders based in U.K and Europe, and that users will be able to trade Bitcoin and Ethereum against the Euro and British pound.

Wei Zhou (CFO of Binance) in an interview with CoinDesk said that:

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Binance selected Jersey for its highly developed digital infrastructure, robust regulatory framework, and world-class financial services sector.

 

He then explained that Binance Jersey carries out its functions independent of its parent Binance.com; however, it is built with the same tech. Wei also said that Binance Jersey is hiring and will keep hiring new staff to carry out several functions, which includes compliance. To develop the exchange, Binance has teamed up with Digital Jersey (a government-backed economic development agency) for some time now, with plans to create about 40 jobs on the Island. Binance first formed a partnership with the agency in June 2018 and back then, CEO Changpeng Zhao said that:

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With its local economy based on a major currency (GBP), and its close proximity to the U.K. and western Europe, we are confident the cooperation with Jersey will not only benefit the local economy, but also form a strong operational foundation for our expansion into the rest of Europe.

 

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