According to a press release, Binance LCX, a joint venture of the Binance and Liechtenstein Cryptoassets Exchange (LCX), announced the launch of cryptocurrency exchanger with the possibility of trading in Fiat currencies.
New trading platform located in Liechtenstein, and will offer trading in Swiss francs (CHF) and Euro (EUR) against the other major cryptocurrencies. After adding the regulators, the exchange plans to add more trading pairs.
Binance provides creation and support of the platform, while Binance LCX will deal with customer support, compliance and relationships with government. Adrian Hasler, Prime Minister of Liechtenstein, said the launch of a new project:
We are confident that the existing legal provisions and practices of Liechtenstein will provide a sound basis for Binance LCX and other blockchain-companies so they can provide services of exceptional quality here in Liechtenstein.”
Liechtenstein occupies an open position in relation to cryptocurrency and blockchain technology, copying the practices of neighboring Switzerland, known for its “Crypts valley” in the Canton of Zug.
Recently, Liechtenstein has introduced a new law on blockchain technology, which provides legal and regulatory certainty for businesses and customers. In an interview with Cointelegraph Hasler said that the country sees great potential in this technology:
Blockchain technology could be the basis for various economic applications, which are responsible not only for payment transactions, but also for the broader financial decisions that are applicable in various fields.