Binance Launches New Crypto Exchange and Targets UK
January 16, 2019 6:42 pm
Binance, the world’s leading digital currency exchange by trading volume has announced the launch of its new exchange. According to the announcement, Binance has launched a new fiat-to-crypto exchange on the island of Jersey, a British self-governing dependency.
The exchange made an announcement saying that through the new exchange, users can trade in pairs for Bitcoin and Ethereum. Users can also trade against the British pound and the euro in Europe and the U.K.
Wei Zhou, Chief Financial Office, Binance said:
“Binance selected Jersey for its highly developed digital infrastructure, robust regulatory framework, and world-class financial services sector.”
Mr. Zhou also added that Binance Jersey is an independent entity from its parent Binance.com, a crypto-to-crypto exchange. The platform is built using the same technology. Binance Jersey is constantly hiring and will continue to hire staff for different functions. The openings also include compliance.
The exchange collaborated with government-backed economic development agency Digital Jersey for developing the exchange. The partnership aimed at creating around 40 jobs on the island.
In June 2018, Binance partnered with the agency. Changpeng Zhao, Binance CEO shared his thought about the partnership that aimed to launch new cryptocurrency exchange.
The CEO said:
“With its local economy based on a major currency (GBP) and its 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.”