The world’s leading cryptocurrency exchange platform has expanded its territory into the European market with its introduction into the Island of Jersey, a self-governing dependency of Britain. Binance Jersey gives you the platform to trade popular cryptocurrencies like bitcoin (BTC) and ether (ETH) in competition to euro (EUR) and the British pound (GBP). You can call on Binance Customer support number and join hands with the team of skilled professionals who have complete knowledge about Binance and can fix all sort of queries in the least possible time.
The exchange is about to launch with the four trading pairs that include BTC/GBP. ETH/GBP, BTC/EUR, and ETH/EUR. In one of the recent statements, Binance’s Chief Financial officer, Wei Zhou, termed island as “an acknowledged forerunner in Blockchain development leveraged by the strong framework and talent pool”. He further added that “Binance Jersey has come up with the hope to escalate Jersey’s competitive profit in banking from other dominions competing for cryptocurrency-related business as there is permission from Island’s cryptocurrency regulations.
There was an alliance signed between both the companies Binance and Digital Jersey known as a Memorandum of Understanding (MoU) such that Binance could grow an amenability base and cryptocurrency exchange in Jersey. Binance and Digital Jersey were first partnered in the year 2018. The other reason to grow this partnership was to help Binance create a better understanding of the regulatory and economic environment of Jersey Island, specifically with compliance with know-your-customer (KYC) laws and anti-money laundering.
Recently, Changpeng Zhao, Binance CEO, explained the reason behind opting Jersey as their final destination. He said we have selected Jersey to be the next big step in their global extension strategy for the sake of clear and pro-crypto investment and regulatory environment. keeping in mind that, its closeness to the UK and Western European as well as the local economy is based on GBP, made them assure that the cooperation with Jersey not only benefit the economy but also able to establish a strong operational foundation for binance expansion into the rest parts of Europe.
Though Jersey is not part of the EU, it establishes a special relationship with the EU via the UK. It is taken into consideration in the EU for trading goods, else Island is not a part of the EU. The Island has already clear its purpose to Great Britain that, post-Brexit, they would try to secure their relationship with the European Union and the UK.
Jersey might be considered as a contingency plan post-Brexit for Binance, stepping into the footsteps of Coinbase which established a Dublin office in the year 2018. Binance members were unable to expand on these budding plans. For more latest information and happenings, feel free to reach the doors of skilled professionals who are there to guide you. Dial Binance helpdesk number and fix your problems in a fraction of time. Connect with the team and get rid of all the errors immediately and enjoy hassle-free trading at the comfort of your home.