Binance Won’t Confirm Locations For Crypto-Fiat Exchange

Binance is known to be among the largest cryptocurrency exchange in the world. Interestingly, it has announced its intentions to increase its reach and spread to a total of eight different countries. And it is something that the company is looking to achieve by the end of 2019.

Locations Revealed By Third-Party

Apparently, though, a spokesperson from the company has only confirmed at least two proposed locations. However, the firm reportedly wishes to retain its position as a leading digital currency exchange platform.

Just recently, Binance was able to introduce a brand new platform that is built intently for the European market particularly for fiat-crypto trading. Later on, a statement was released highlighting a screenshot with details suggesting all locations meant for the company’s fiat-crypto exchanges. All of these were posted online, though it came from a third-party.

According to the official report, all of Binance’s fiat-crypto exchanges were shown to have kicked off already. This includes the ones intended by the company, as well as those that have yet to jumpstart since they are still under heavy consideration.

The countries in question are South Korea, Malta, Russia, Bermuda, Liechtenstein, Singapore, Argentina, and Turkey. Uganda, in particular, was officially launched in October last year. In other words, the prospective fiat-crypto platforms are expected to spread around a few continents.

Locations Binance Confirmed

Apparently, two of the countries mentioned in the publicized list are expected to be confirmed. These are none other than Malta and Singapore. Bermuda is reportedly under consideration, including five other countries, but all of them remain uncertain.

Sometime in August last year, Binance revealed that it would develop a fiat-to-crypto exchange in Liechtenstein. By doing so, the company could create support and provision specifically meant for both Euros (EU) and Swiss Francs (CHF).

Moreover, the founder and CEO of the company named Changpeng Zhao announced in September that the firm plans to jumpstart between five and ten fiat-to-crypto exchanges. All of them, according to him, are expected to become a reality sometime this year. Zhao further revealed that the company is looking to launch two exchanges per continent, though he did not mention the countries or even the exact locations that are under heavy consideration.

Binance was originally founded in 2017, thanks to Zhao. It was also Yi He who provided a platform for trading more than a hundred different digital currencies. In December of last year, Zhao mentioned the company’s plans for 2019. This includes the induction of Binance Chain, which is basically a blockchain developed by the company itself.