Binance exchange expands to Jersey and Malta
Binance exchange’s CEO, ChangPeng Zhao, has announced that the exchange would be expanding to Jersey. The news comes just a few days after its announcement of expanding into the European Island of Malta.
The exchange has inked a partnership deal with a local organisation called Digital Jersey. The two parties have signed a MOU (memorandum of understanding) which aims at developing blockchain projects in the area. Also, it aims at improving the crown dependency’s status.
— CZ (@cz_binance) June 11, 2018
Zhao Changpeng said,
“We have chosen Jersey to be the next big step in our global expansion strategy for its clear and pro-crypto investment and regulatory environment. With its local economy based on a major currency (GBP), and its close proximity to the UK 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 has recently been the news after it supported the mainnet launch of several cryptocurrencies. Also, it launched a competition which involved a prize of 20 million IOTX tokens to be given away.
Binance has been expanding their base pretty quickly. Yesterday, it made an announcement about moving to Malta, which boasts itself as the ‘Blockchain Island’. Malta is known for its blockchain and crypto-friendly environment, which according to Binance labs, is the main reason they decided to move into Malta. Also, it recently introduced Euro as its first fiat currency to be traded against the cryptos.
Changpeng also said that the exchange is in talks with the regulators and banking partners from Taiwan, which could be Binance’s next stop. All the news about Binance has pushed the exchange to the top position on the list of highest trading volume. Currently, its 24-hour volume amounts to $1.597 billion.
Image via Shutterstock and Coinmarketcap
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