Binance is one of the most renowned cryptocurrency exchange going around these days. Binance is on the verge of extending to the European markets with introduction of a brand new fiat-to-crypto exchange on the island of Jersey, a self-governing dependency of the United Kingdom. In order to attain the best solutions related to Binance, dial Binance Phone number which is functional all the time.
fiat-to-crypto exchange also dubbed as Binance Jersey
Binance is looking to target traders in Europe and the U.K via fiat-to-crypto exchange also dubbed as Binance Jersey. It will enable the European users to trade Bitcoin and Ethereum with pound sterling and euro.
Jersey is known for its advanced infrastructure and financial services and Wei Zhou, the chief financial officer was quick to point it out. In an interview he claimed “Binance selected Jersey for its highly developed digital infrastructure, robust regulatory framework, and world-class financial services sector”.
It is worth noting that Jersey, which retains complete financial and political autonomy, is known as one of the most popular offshore financial centers precisely because it is considered by many as corporate tax haven.
In the press release, Binance also leaned to the fact that an extension into the European markets could help people attain “freedom from looming Brexit uncertainty where the pound and euro are also in concern.”
Through Binance Jersey, they want to help bridge the crypto-fiat channel for Europe and the U.K. as part of their global expansion to support broader cryptocurrency adoption
Binance jersey is an entirely new prospect but it is established using the same technology as Binance.com, a crypto-to-crypto exchange. Although it’s new, it will still feel same to the existing users because of the technology used.
Users will be able to trade on Binance jersey involving pairs such as BTC/GBP, ETH/GBP, BTC/EUR and ETH/EUR after the customary account verification via Know Your Customer (KYC) process.
Blockchain Industry in Jersey
Last year in June 2018, Binance joined hands with Digital jersey, the government-backed economic development agency and industry association dedicated to the growth of the digital sector. The collaboration between the two organisations aims to promote the Blockchain Industry in Jersey.
After partnering with Digital jersey, Binance CEO emphasized on the benefits of the collaboration with Digital jersey. Changpeng Zhao, the CEO of Binance said “With its local economy based on a major currency (GBP), and its close 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.”
Binance might well be one their way to expand its roots to other countries as well.
Binance is the largest cryptocurrency exchange by volume and this expansion to European markets will be a major boost for what is an already established crypto exchange. Binance is fast approaching to be the worldwide leader of cryptocurrency and if this trend of expansion continues they might emerge as the superpower in this industry. For any queries related to Binance, dial Binance customer support number and get rid of all the worries in fraction of time.