Binance Plans Six More Crypto-Fiat Exchanges Without Stating Locations


Binance, one of the biggest crypto exchange platforms worldwide, has announced intentions to increase their reach and spread to at least eight different new countries before the end of 2019. Although a Binance spokesperson only confirmed two of the proposed locations, it is confirmed that the company wishes to retain its position as a top crypto exchange platform.

Recently, Binance introduced a new platform which focuses more intently on the European market for fiat-crypto trading. A day after, a statement that includes a screenshot with information that shows all the locations for its fiat-crypto exchanges was posted online by a third-party. This report shows all the fiat-crypto exchanges that have already kicked off, the ones that are intended and also the exchanges that haven’t kicked off yet and are still under consideration.

Proposed Countries

The countries allegedly proposed for expansion include Singapore, Malta, South Korea, Liechtenstein, Argentina, Russia, Turkey, and Bermuda. Uganda was already launched in October. This means the prospective fiat-crypto platforms would spread across a few continents.

Confirmation

Two of the countries in the publicized list could be confirmed. They include Singapore and Malta. Bermuda is supposedly under consideration and five others are reportedly intended.

In August of 2018, Binance announced that it intended to launch a fiat-to-crypto exchange in Liechtenstein. This will have support and provision for both the Swiss Francs (CHF) and Euros (EU).

Also, Changpeng Zhao, the founder, and CEO of Binance revealed in September, that the company plans to start between five and ten fiat-to-crypto-exchanges within a year. Zhao did reveal that the company plans to start two per continent but did not state the countries or exact locations under consideration.

Other Plans

Binance was founded in 2017 by Changpeng Zhao and Yi He and provides a platform for trading more than a hundred different cryptocurrencies. In December of 2018, Zhao stated plans for 2019 which include the inauguration of Binance Chain, which is a blockchain made by Binance. The plan also includes a

“high-performance decentralized exchange that will feature 1-second transaction confirmation times, enabling true instant transactions.”

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