According to reports quoting its CEO, Binance will soon allow customers to trade cryptocurrency in pairs with the Euro.
Binance, currently the world’s biggest cryptocurrency exchange by trading volume, is preparing to introduce Euro trading later this year when it has completed its transfer to Malta, according to CEO Zhao Changpeng. Speaking to Bloomberg, Zhao also said that the company has been working on offering trades with other fiat currencies too – a long rumoured development for the fast rising company, which only opened its virtual doors in July 2017.
Currently Binance, despite its popularity with customers – over 9 million them currently, we’re told – only offers crypto-to-crypto trading, meaning they have to go elsewhere to cash out their accounts. Now, with plans well advanced to receive an exchange licence from Jersey, in the Channel Islands – where the company will also apparently look to set up an office – it will be able to offer a more comprehensive facility. The nearest current equivalent is trading with USDT, a somewhat controversial cryptocurrency that, it claims, has its price tethered to the value of the US dollar and is underpinned with fiat deposits.