Binance will offer trading in Fiat currencies

Binance will offer trading in Fiat currencies

Cryptocurrency exchange Binance announced plans to enter a trade with Fiat money this year through a specially created for this exchanger, registered in Malta.

Binance is currently the second largest cryptocurrency exchange, the daily trading volume is approximately $ 1.5 billion.

While Bloomberg reports that Binance “will soon allow customers to convert digital tokens in Fiat currency”, the representatives of Binance explained that “Binance.com pure cryptocurrency exchange”. They confirmed that trade cryptocurrency in fiatnym money will pass through a separate exchange, which the company opened in Malta. The first pair that will appear on Binance Malta is likely to be Euro bitcoin.

Binance announced the opening of the office in Malta at the end of March after received a letter from the Japanese controller with a request to stop service of the Japanese residents.

Last week the General Director of the Binance, Chanpen Zhao (Changpeng Zhao) in an exclusive interview to Cointelegraph reported that the exchange has already opened a Bank account in Malta, which was the first step in the introduction of Fiat trading pairs. During the interview, Zhao mentioned the expansion plans to Uganda and Asia.

In an interview for Bloomberg Zhao also said that Binance is going to open the stock exchange to Jersey in the channel Islands in the state of this exchange will be about 100 people. Representatives of the exchange have signed a Memorandum of understanding with the authorities in Jersey.

In early June, the company Binance announced the creation of a cryptocurrency Fund in the amount of $ 1 billion, which will be attended by 20 partners, each of which will accommodate assets for approximately $ 100 million.

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