Posted 10 months ago | by Ben Armstrong
Binance to Launch UK Trading Platform with Fiat Onboarding in GBP and EUR
Binance, one of the major cryptocurrency exchanges in the world, has announced the launch of its UK Platform.
The new platform will be registered with the UK Financial Conduct Authority and allows both retail and institutional investors to trade with GBP and EUR.
A New Binance Platform is Coming
Binance has been setting up to launch another subsidiary in the UK. In an interview with Reuters, the company announced the launch of the new platform and also disclosed that Binance UK will be regulated by the UK Financial Conduct Authority (FCA).
The launch comes from increasing demand from both retail and institutional investors in the country.
According to Teana Baker-Taylor, who is newly appointed director of Binance UK:
“Interest and participation in the UK digital asset markets is growing; not just in-depth with its current participants, but also in breadth.”
Also, the company has established partnerships between the UK Faster Payments Service and the Single Euro Payments Area network, which will allow deposits and withdrawals for buying and selling digital currencies through direct bank transfers.
While expecting the launch of the new platform will come this summer, the exchange has yet confirmed the exact launch date.
Loads of New Tools
According to Binance, the U.K platform will allow users to trade up to 65 different digital assets. Both the design and the interface of the platform were created to deliver amazing performance to anyone who is interested in tokens.
Binance told media that both institutional and retail investors will be able to buy and sell cryptocurrencies using two different fiat currencies, including GBP and EUR.
The director of Binance UK added that the platform may offer more than services, such as introducing staking and passive staking in the follow. These new features could be forthcoming.
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