Binance has set foot on the European soil with a Fiat-to-Cryptocurrency trading platform. Binance announced in a press release on 06 January.
In the similar context, as reported in the company’s blog, Wei Zhou, Binance CFO cited:
“Expanding the cryptocurrency exchange markets with fiat currencies in the European region is opening new economic opportunities for Europeans as well as freedom from looming Brexit uncertainty where the pound and euro are also in concern.”
Zhou continued that with this salient presence in the UK and Europe, Binance hopes to tackle problems associated with fiat-crypto trading. Zhou continued that the greater vision is for mainstream adoption of cryptocurrencies.
Having a fancy name Binance Jersey, the trading platform is set to ease fiat to cryptocurrency conversion by supporting the mighty British Pound (GBP) and Euro (EUR). Customers can buy Bitcoin(BTC) and Ethereum(ETH) using GBP or EUR.
In a bid to woo more customers, the press release promised an amount of 20 euros to the first 5000 users who register and complete account verification on the trading platform. The press release also provides handy information on the supported geographies.
The blog nostalgically added that Jersey island was the base for many crypto ventures including the world’s first regulated Bitcoin fund. It positively noted that Binance Jersey is well seated to make an impact on the European economy.
Zhou was all praises for Jersey as a location which houses regulatory and legal bodies. The fit is just right for the launch of Binance Jersey from this smart island. Zhou commended the prized location which Jersey enjoys, brings in a talented resource pool.
As an important highlight noted by the blog, Binance entered into a partnership with Digital Jersey late last year. This collaboration was in an effort to boost blockchain initiatives and address the growing need for technology.
Binance is already a global leader in the crypto exchange space. While keeping a tab on this venture, we must also be on the lookout for other exchanges driving innovations for the greater good.