EUR Trading Pairs on Binance Later this Year
Binance, the 2nd largest cryptocurrency exchange by 24 hour volume, has announced it will launch Euro trading pairs soon, with other fiat currencies planned for the future. Binance has taken steps to introduce fiat trading pairs on the exchange, including opening a bank account in Malta.
Most exchanges currently only allow for crypto to crypto trading as there are less regulatory issues in most countries, however, it does hamper the ability a customer can buy and liquidate their crypto. It is believed offering fiat liquidity would greatly increase the customer base, making it easier for mainstream consumers to buy various tokens not yet available on current fiat-enabled exchanges, such as Coinbase.
Binance will turn 1 years old in July, and has grown from 2 million users in January to 9 million today. Binance has profited $150 million USD over Q1.
CZ the CEO of Binance tweeted this morning to encourage other jurisdictions to embrace cryptocurrencies:
— CZ (@cz_binance) June 11, 2018
Binance is doing its part to build out the crypto ecosystem. It recently announced a $1 billion fund, dubbed Community Influence fund, to help quicken the development of cryptocurrency and blockchain companies. It had recently invested in Malta-based chiliZ, an esports company as well as lead a $30 million investment in MobileCoin.