Since they moved to Malta they made some deals with banks there. Its not clear if Binance itself will stay as Crypto-crypto spot and they will just add another platform for fiat (to avoid some issues with KYC ie) or they will somehow add this but we can be sure FIAT is coming.
Since they moved to EU, EUR will be first, then it seems USD and then GBP.
The info comes from Bloomberg interview.
Binance, one of the world’s largest cryptocurrency exchanges by traded value, will soon allow customers to convert digital tokens into fiat currencies such as the euro, according to Chief Executive Officer Zhao Changpeng.
It seems they will also work with Jersey and get GBP using their structure.
CEO of Binance, Changpeng Zhao, said, “We have chosen Jersey to be the next big step in our global expansion strategy for its clear and pro-crypto investment and regulatory environment. With its local economy based on a major currency (GBP), and its close proximity to the UK and Western Europe, we are confident the cooperation with Jersey will not only benefit the local economy, but also form a strong operational foundation for our expansion into the rest of Europe.”
Markets
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BNB
Scared of BNB?
There are two other exchanges with really similar layouts which also have their tokens used similar way. KuCoin and KCS and BiBOX with BIX, you can still be early on those.
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Binance exchange has achieved milestones after milestones on the journey to becoming the largest cryptocurrency exchange in less than one year. It was launched in July 2017 and in only three months it had made profits amounting to $150 million. Binance trading volume currently falls between $1.4 billion and $1.5 billion and serves at least 9 million users.
Binance should have become decentralized before anything else.
Soon Huobi may be a better choice.
The question is: will decentralization make Huobi immune to Chinese and any other potential sovereign legislation, persecution and dictates?
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Decentralized? I don't think decentralization will allow for international/ worldwide expansion due to its ability to bypass regulations or to create an unregulated market which will def be a haven for scammers to thrive.
Decentralization is just a word thrown about arbitrarily without consideration of the disadvantages. The general pup does not want a decentralized world. They want their finances to be handled by a 3rd party for a few reasons some which are critical due to multi-tasking.
Is not this the reason to how it "will allow for international/ worldwide expansion"?
scammers thrived more due to centralized exchanges being easier to hack:
See binance, mtgox, and every other exchange that was hacked.
I referred only to decentralized monetary system, and in particular, to decentralized exchanges and currencies.
?
Ok, so you are referring to the overal security of the system, an exchanged built on a blockchain platform to be more resistant to hacking, got ya! I think Binance has a decentralized exchange coding competition for the purpose of building one in the near future.
This wasn't properly but nevermind it's irrelevant.
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Actually, unless you want high speed trading, the big boys will be happier without handing control over their funds to a 3rd party
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that`s good news crypto is the future
Fiat gateway for Binance could be a game changer. There is literally no way that one can overestimate the importance of fiat gateways. They are of key importance - in the sense that coinbase has literally centralized the purchase of cryptos through fiat (dollar).
Although small exchanges like Kraken have fiat gateways but we need a major player entering the foray
What also makes Coinbase stand out is that it is very easy to use and it is also very accessible.
In literally less than 10 minutes you can register the account, verify it and start your crypto currency journey.
That is true but I am talking about having more players in the market. Trust monopoly on it won't be good for us
I'm using bitstamp for years.
I prefer to not send my money to the US and their fees are much lower
Heard it will be separate exchange... binance to stay crypto to crypto
Like Coinbase and Gdax?
Absolutely
Can't wait for this...
Good News.
That would be a great news for binance, not that bad for ones like kraken as people will surely move to Binance!
The link between being able to buy crypto and fiat is huge. The fewer hoops needed to be jumped through, the money crypto will be bought. This could be big news and make a large impact over the next few months...
Awesome! I cant wait for this, Thanks for the news! Right now my only way to get BTC is using those Stupid Overcharging Bitcoin ATM's!
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!originalworks
People who managed to take advantage of the mistakes that he did, and will try again to perform in a different way.
Good news, spread it and chain the world
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Good news.
Thanks for this valuable blog. BNB coin burn also occur in June or July and this will pump the BNB price. Binanc e is also working on decentralized exchange where BNB coin play an important role.
I am scared of BNB too but after going through your post, i will give it a shot
Great : What stop you from buying.? There is many events showing the bull trend is coming soon!!!
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hopefully what is in the plan can be successful without any obstacles and also in the plan will be the best
no surprise binance getting edge on btc even almost all coin include bitcoin has suffer price drop now.
Interesting article. I subscribed to you. Subscribe to me. Let's be friends
Go BINANCE Go Go!!!
More Fiat pairs mean less volatility, future is bright!
Great News
Nice starting point.
check out this https://steemit.com/cryptocurrency/@coinratecap/long-awaited-conratecap-com-is-finally-launched
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This is a great news for all the crypto world. Binance is by far at the moment, in my opinion, the best crypto exchange. I think however they will have separate platforms, one for fiat pairs and one crypto-crypto.
and so the unpeg from bitcoin begins!
Great News this is awesome!
okay, thanks, that's interesting information for me. I have to think about it
I love binance.. its an awesome news about an awesome exchange
Another exchange (and it is even decentralized) that shares revenue between the BCO holders is https://crypto-bridge.org
The big deal here is the competition coming to the marketplace. I am tired of the fees, especially at Coinbase. I have been able to get around them but it takes too much time. The fees should drop if we can get a few more onboarding ramps. Binance seems to be running their business well. It might be time to hodl some bnb.
Sounds great to me. This will help bring in more people who are not familiar with cryptos, and it helps make cryptos worth more in the sense that they are now more directly useful for everyday purchases. All you have to do is turn it into fiat currency.
When Binance first came I was trading on Kraken which was great because it had EUR USD and other currencies but Binance was quick and I wasn't loosing money beacuse I could execute any trade 100 times faster without delays. So if they will be able to have currencies it's a game changer and they will grow even bigger.
Love Binance and keep buying BNB, as this awesome exchange develops further the BNB coin is bound to increase.
Coins mentioned in post:
This should effectively help bring new money into the market, Let's go! To the moon!
Great initiative by Binance, they achieved everything very quickly. Hence, they are the No. 1 crypto exchange in the World.
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