Crypto Exchange Binance to Offer Fiat-Crypto Trading via Malta-Based Platform.

in bitcoin •  6 years ago 

Crypto Exchange Binance to Offer Fiat-Crypto Trading via Malta-Based Platform.
Crypto exchange Binance announced plans to allow fiat-crypto trading this year through a separate Malta-based exchange, a Binance representative told Cointelegraph today, June 11.

Binance is currently the second largest cryptocurrency exchange by 24-hour trading volume, seeing about $1.5 bln in trades on the day to press time.

While Bloomberg reported today that Binance will “soon allow customers to convert digital tokens into fiat currencies”, a Binance representative clarified to Cointelegraph that “Binance.com is a pure crypto-to-crypto exchange.” They confirmed that crypto-fiat trading will only be offered through a separate local exchange the company is opening in Malta. Binance Malta will most likely begin fiat trading with a euro-Bitcoin (BTC) pair, the representative told Cointelegraph.

Binance had announced the opening of an office in Malta at the end of March after receiving a warning letter from Japanese financial authorities about its unregistered status.

Last week, Binance CEO Changpeng Zhao told Cointelegraph in an exclusive interview that the exchange has already opened a bank account in Malta, leading the way for the introduction of fiat-crypto pairs. During the interview, Zhao mentioned plans to offer fiat-crypto trading in Uganda and Asia in the future as well.

Zhao told Bloomberg today that Binance will also be opening a crypto exchange in Jersey in the Channel Islands with an office staff of around 100, signing a memorandum of understanding with authorities in Jersey today.

At the beginning of June, Binance had announced the establishment of a $1 bln cryptocurrency-based fund, seeking 20 partners with at least $100 mln in assets under management.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://cointelegraph.com/news/crypto-exchange-binance-to-offer-fiat-crypto-trading-via-malta-based-platform