Binance to offer fiat-crypto trading pairs
Binance, the international digital currency exchange with bases in Japan and Taiwan, announced it was opening a new office in Malta through which it will offer trading between fiat and cryptocurrencies.
Chief executive Zhao Changpeng told Bloomberg that fiat-crypto trading would begin later this year, beginning with euro-crypto crosses trading from its Malta base. He said other fiat currencies would be added over time.
Founded a little less than a year ago, Binance has quickly become one the biggest cryptocurrency trading venues in terms of daily volumes, with around 9 million users averaging nearly $1.5bn in daily trade.
The exchange announced it had opened an office in Malta at the end of March. Binance is also reported to be opening a crypto exchange in Jersey, a crown dependency of the UK in the Channel Islands.