Crypto exchange announced plans to allow fiat-crypto trading this year through a separate -based exchange, a Binance representative told Cointelegraph today, June 11.
Binance is currently the second largest cryptocurrency exchange by 24-hour , seeing about $1.5 bln in trades on the day to press time.
While 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 at the end of March after receiving a warning letter from financial authorities about its unregistered status.
Last week, Binance CEO Changpeng Zhao told Cointelegraph in an exclusive interview that the exchange has already in Malta, leading the way for the introduction of fiat-crypto pairs. During the interview, Zhao mentioned plans to offer fiat-crypto trading in 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 with authorities in Jersey today.
At the beginning of June, Binance had announced the establishment of a , seeking 20 partners with at least $100 mln in assets under management.
Published at Mon, 11 Jun 2018 18:26:19 +0000
