Posted 10 months ago | by Ben Armstrong
Binance to Allow Clients to Buy Bitcoin with British Pounds (GBP)
After announcing the launch of a UK platform a couple of days ago, the leading cryptocurrency exchange Binance has added pairings for the GBP on its main exchange. The exchange has been working to make cryptos more accessible to people, and now the GBP market can access tokens directly.
The listing of the following pairings was announced by Binance, including TC/GBP, ETH/GBP, XRP/GBP, BNB/GBP, and GBP/BUSD. Binance now supports fiat currencies, including the Euro, Russian ruble, Turkish lira, and the British pound.
UK citizens are allowed to be able to convert fiat to crypto on Binance through Binance Jersey. The platform has low tax rates and is located between England and France.
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Binance Goes Bigger!
Binance Jersey is not as popular as other platforms of Binance. According to the data from CoinGecko, it reportedly traded $320,955 in the past 24 hours while comparing to the amount of Binance traded in the past day is $4 billion as data from CoinMarketCap.
There are five coins that Binance Jersey supports, including Bitcoin, Ethereum, Binance Coin, Litecoin, and Bitcoin Cash. The new UK platform is expected to be more ambitious.
Coming Soon to UK Markets
Binance UK will go live this summer and is expected to have 65 cryptocurrencies listed. The new exchange is regulated by the UK’s Financial Conduct Authority (FCA) and follows new anti-money-laundering regulation implemented in January of this year.
Binance UK will allow using of European and British payments services to speed up withdrawals and deposits of the euro and the pound. It will also allow customers to create their virtual bank accounts, with unique sort codes and account numbers are replete.
Currently, Binance is one of the largest exchanges worldwide.
Binance US was launched late last year and has traded $15 million USD worth of assets in the past 24 hours, according to data from CoinGecko. Binance also has jurisdictional subsidiaries that operate from other markets, such as Singapore.
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