- Binance new fiat exchange caters to European markets with Buy/Sell Bitcoin and Ethereum with Pounds and Euros option
- The new exchange receives overwhelming registration requests
Binance CEO: “One thing we do “well” is underestimating ourselves & market”
Launched in 2017, Binance is currently the number one crypto exchange with a market cap of $659 million as per the data provided by Coinmarketcap. With 415 markets available for trading, Binance has now launched its services for the European markets as well.
Yesterday, the new exchange, Binance.je was launched on the island of Jersey (a British self-governing dependency) that is offering four trading pairs for now viz. BTC/EUR, BTC/GBP, ETH/EUR, and ETH/GBP.
For choosing Jersey for the exchange launch, Wei Zhou, the chief financial officer at Binance stated,
“Binance selected Jersey for its highly developed digital infrastructure, robust regulatory framework, and world-class financial services sector.”
Binance’s expansion into Europe has brought a lot of excitement in the crypto community which is further evident from the fact that within a day of launch, the exchange has received enormous registration requests according to Binance CEO Changpeng Zhao who took to Twitter to share,
https://t.co/THxfdd3RD2 is overwhelmed with registrations. There is a backlog of KYC verifications already. More resources are allocated to reduce it. In the mean time, we appreciate your understanding and patience. The registration prize is FIFO based, no worries. Just crazy!
— CZ Binance (@cz_binance) January 17, 2019
The running promotions where first 5,000 users to register and complete the KYC will be rewarded with 20 EUR and “for a limited time, 80% commission fee referral program,” are further fueling the craze among the people.
Binance.je is an exchange that according to its official website, “provides secure and reliable trading of the Euro (EUR) and British Pound (GBP) with Bitcoin (BTC) and Ethereum (ETH), in addition to digital asset management services to users from around the world.”
Promising to bring a world-class trading experience, the exchange requires one to fulfill KYC requirements in order to open an account. As for trading, it offers two options, basic and advanced.
Binance Jersey, according to Zhou is an independent entity from its parent company, Binance which is a crypto-to-crypto exchange.