Binance Announces UK Move

Binance, one of the largest cryptocurrency exchanges, will continue its activities in this region by launching its UK platform. The platform will allow retail and institutional investors to trade in GBP and EUR and will be registered with the UK Financial Conduct Authority.

Binance's New Platform Will Be Launched in the UK This Summer

After launching for its US platform in September 2019, Binance will launch another subsidiary in the UK in the next few months. It was announced that Binance UK, which is legally recognized by the UK Financial Conduct Authority, will be launched in the UK. Binance UK chief Teanan Baker-Taylor emphasized that the launch is a response to the growing demand from both individual and institutional investors in the country. In the UK, the Faster Payments Service and the Single Euro Payments Area network have established partnerships that enable deposits and withdrawals to buy and sell digital currencies using direct bank transfers. The platform is expected to be launched in the summer, but the exact launch date has not been announced.

65 Different Digital Assets Are Expected to Be Listed on the Stock Exchange

Once available, Binance UK will allow users to trade up to 65 different digital assets. Both the design and interface of the platform are designed to attract the attention of all types of investors. Institutional investors will benefit from Binance's liquidity and global reputation, while individual investors will be attracted by the company's simple interface and easy use of fiat money. Binance stated that institutional and individual investors can buy and sell cryptocurrencies using two different fiat currencies (British pound and Euro). Baker-Taylor noted that the platform may offer more than trading services in the future, potentially offering staking and passive income in the coming months.