Binance will open local cryptocurrency units in 10 jurisdictions
The popular cryptocurrency exchange Binance is trying to enable every inhabitant of the planet to buy new rapidly developing assets. The first such initiative — the launch of a crypto-fiat unit in Uganda last October — was not particularly successful and raised a number of questions, but the second was much more convincing.
This week, Binance introduced a new trading platform on the island of Jersey, through which residents of the European island will be able to buy Bitcoins for euros and pounds. The new site based on the infrastructure of Binance, but framed as a separate company.
It is also reported that the company's plans do not end there. The information portal found out that among the potential jurisdictions for opening such platforms considered Singapore, Russia, Liechtenstein, Turkey, Malta, South Korea and Argentina. In addition, the launch in Singapore and Malta planned this year, while the rest are under the "scheduled" tag. The possibility of launching a cryptocurrency platform in Bermuda is also being considered.
All of the above is the implementation of plans that voiced by Binance CEO Zhao Changpeng in September 2018 at the conference of Consensus Singapore. Then he said that he plans to launch 5-10 cryptocurrency platforms in a year, ideally two for each continent. Also assumed that in all of these countries, users will be able to purchase cryptocurrencies for the national fiat currency.