Blockchain

Binance Getting Closer to European Clients

Binance’s CEO Brushes Away the Bitcoin Price Drop Panic

Lichtenstein Cryptoasset Exchange (LCX) and Binance announced that they are setting up a new Fiat-cryptoexchange that will offer trading in Swiss francs and Euro for European investors. 

There is a lot of news circulating about Binance during the recent months and weeks. They back the worlds first decentralised bank with funds, a Maltese bank that is looking to give blockchain and cryptocurrency firms access to bank accounts. A few months ago they also moved operations to Malta. 

The most recent news that came out, the 16th of August, states that a joint venture is created between Binance and LCX – which creates Binance LCX. The experienced team at Binance will provide and maintain the technology needed, while LCX manages customer support, legal requirements, due diligence KYC and communication with the government. Together they create a Fiat-Crypto exchange in Lichtenstein. 

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They plan to build a team of 10-15 people for the office in Europe and will immediately start hiring. Binance LCX will offer to trade between Swiss Francs (CHF) and Euros (EUR) against major cryptocurrencies pairs, and add more trading pairs overtime subject to regulatory approval. The CEO and founder of Binance, Changpeng Zhao, believes that Binance LCX will offer investors a sustainable and reliable platform for investors. 

“I believe Binance LCX will create a sustainable and reliable fiat-crypto gateway for professional and regular investors alike. I hope Binance LCX will drive new standards for usability and compliance for the blockchain industry, and we are very excited to bring the relevant experience and best practices to grow our team in Liechtenstein,” 

The CEO of LCX, Monty C. M. Metzger agrees and thinks that this platform is needed and together with Binance, they can succeed. 

“Professional investors need a reliable fiat channel to invest into crypto assets,” said Monty C. M. Metzger, CEO of LCX. “We are excited to launch the joint-venture with Binance to establish new standards for the blockchain industry.”

Lichtenstein is perfectly positioned for the exchange, in the heart of Europe and is also part of the European Economic Area (EEA). The country is also an innovative country that is getting used to crypto innovations. According to Forbes, Malahov – the founder of the cryptocurrency Aeternity, said that Lichtenstein was the obvious choice for the creation of a cryptocurrency. 

Even the Prime minister of Lichtenstein has welcomed Binance LCX into the country with opened arms. 

“We welcome Binance LCX to Liechtenstein. Blockchain technologies are laying the basis for an entirely new industry. We are confident that Liechtenstein’s existing and future legal framework and practice provide a robust foundation for the Binance LCX and other Blockchain companies to provide exceptional services here in Liechtenstein,” said Adrian Hasler, Prime Minister of Liechtenstein.

It is a big step for Binance and not least the cryptocurrency space. The more “common” and accepted the crypto world gets, the more attention and more stable it gets.

Image Source: “Flickr”

Ledger Nano S - The secure hardware wallet