One of the worlds leading crypto exchanges, Binance, just announced their plans of allowing fiat-crypto trading. Clarifying that Binance itself stays a crypto-to-crypto exchange, adding that crypto-fiat trading will be only available though a separate local exchange the company is opening in Malta. Announcements of opening such an office came already at the end of March, when Binance received a warning letter from the Japanese financial authorities about its unregistered status.
In an exclusive interview with the Binance CEO Changpeng Zhao, he told that they have already opened a bank account in Malta and that they have plans of offering similar exchanges in Uganda and Asia in the future as well. In a recent tweet to the Prime minister of Malta, Joseph Muscat, Changpeng Zhao shared his thoughts on Malta: “Malta is very progressive when it comes to crypto and fintech. We think it is a good place for other crypto businesses to look into as well”.
Binance will most likely start crypto-fiat trading with a Euro-BTC pair. Binance is the second largest cryptocurrency exchange by now, seeing $1.5 billion in trades by 24-hour trading volume.