Binance: To Launch Euro Trading Pairs In 2018
Binance will launch trading pairs in euros, with other fiduciary currencies planned for the future.
Binance, one of the most popular and successful cryptocurrency exchanges in the world, has plans to offer traders the possibility to exchange cryptocurrencies for euros – alongside with other currency pairs in operation. Bloomberg reported the information after a phone call with Binance’s CEO, Changpeng Zhao. It was also mentioned the relocation of the exchange to Malta, one of the crypto-friendly locations around the world.
It's hard not possible to determine which will be the impact on the exchange. Binance currently offers trading pairs from crypto-to-crypto, with Tether (USDT) as the USD-linked currency.
Growth And Expansion
Binance will soon celebrate its first birthday in July, and currently has a user base of 9 million traders. The exchange had 2 million users at the beginning of 2018 and made a profit of $150 million during this first quarter. Bloomberg has also noted that Binance will receive a Jersey exchange license in the Channel Islands and is in negotiations with authorities and banks in Taiwan.
In addition to these developments, Binance is ready to launch a $ 1 billion fund for cryptocurrencies and blockchain technology startups. Ella Zhang, Head of Binance Labs, announced the establishment of the fund during an online meeting on May 31, 2018.
On the part of Zhang and the board of directors it is said that
“we would like the bubble to break. They think that if the bubble explodes, it would be good for the industry. Since there is excess hype in the market and the valuations are high and unreasonable.