Binance Announces FCA Regulated Trading Platform for the UK
Binance today announced it will launch Binance.UK, a Financial Conduct Authority (FCA) regulated platform for buying and trading cryptocurrencies with British Pounds (GBP) and Euros (EUR), in Summer 2020. Designed for U.K. retail and institutional investors alike, including crypto novices, Binance.UK will also serve European customers.
Binance CEO Changpeng Zhao
Up to 65 digital assets are being considered to be available at the launch.
The platform will provide fast and easy deposits and withdrawals for the buying and selling of digital currencies through direct bank transfers via the UK Faster Payments Service (FPS) and Single Euro Payments Area (SEPA) network. Additional features will include fiat-to-cryptocurrency on-ramps via debit cards and options for customers to open their own virtual bank accounts, each with dedicated sort codes & account numbers, combined with some of the lowest fees in the market. Verified users will be able to trade spot pairs with deep liquidity while leveraging Binance.com’s advanced trading platform.
“The U.K. is a significant financial epicenter with London being the second-largest financial centre in the world and the leading market for foreign exchange,” said Binance CEO Changpeng Zhao (CZ). “As part of our local market growth efforts around the world to bring more tangible financial access through the power of digital assets and its technology, the U.K. is at the forefront of spurring larger interest in the region and throughout Europe. We hope Binance. UK will serve as a stepping stone for the next generation of finance.”
As an affiliate of Binance, Binance.UK connects to the broader ecosystem of Binance while catering to the U.K. and European markets. Its localised approach and service also include active participation and engagement with local communities and governments to ensure a high industry standard and user-first model.
“The U.K.’s pivotal role as a global fintech innovation leader has paved the way for disruptive technology to challenge traditional financial services. We’re excited to become part of this vibrant ecosystem,” said Binance U.K. Director, Teana Baker-Taylor. “Aligned to our Binance mission of increasing the freedom of money globally, Binance.UK will enable U.K. and European customers to participate in the ever-growing crypto and digital assets market with greater confidence through a regulated platform, with access to secure and convenient payment rails at a competitive price.”
Over the years, Binance has established joint ventures with leading global partners in South Korea, Uganda, Singapore, Indonesia, Jersey, and the United States to create fiat-to-cryptocurrency trading platforms.
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