Binance to Add Fiat Support
June 12, 2018 BY Chris Perrotta
Binance CEO, Zhao Changpeng, declares that there will be Euro to crypto trading on the platform later this year with more currencies to come.
According to Binance CEO, Zhao Changpeng, Binance will allow Euro to crypto trading later this year with other fiat currencies on the horizon. Earlier this year, Binance moved their headquarters from Hong Kong to Malta due to regulation issues. Zhao believes that Malta is “one of the best places for blockchain firms.” Binance is the largest exchange by volume in the world and having a fiat pairing would be a huge catalyst in potentially ending this bear market.
This news comes after Zhao announced on Twitter, on June 6th, that Binance has opened their first bank account in Malta. Bringing them closer to successfully allowing a fiat to crypto exchange. Later in the interview he hinted at a potential collaboration with Malta’s traditional equities stock exchange.
When Binance first announced the move to Malta, Zhao told Bloomberg “We are very confident we can announce a banking partnership there soon, Malta is very progressive when it comes to crypto and fintech.” Earlier this year Binance passed Deutsche Bank in total profits even with the falling prices of Bitcoin and other cryptocurrencies.