Binance has decided to launch a new crypto exchange called Binance Jersey. The intention behind this is to allow users to trade new fiat pairs including GBP and EUR. This is the second time that Binance launches fiat trading pairs. In the past, it offered crypto to fiat trading against the Ugandan shilling.
Binance Launches Fiat Trading Pairs
This new platform is called Binance Jersey and it will allow interested individuals to trade virtual currencies against other fiat currencies. That includes GBP and EUR. Bitcoin and Ethereum are also available for trading.
The official announcement says:
“Fellow Binancians: Binance is excited to announce that Binance’s EUR/GBP Fiat Exchange, Binance.je, is now online, with trading in BTC/GBP, ETH/GBP, BTC/EUR and ETH/EUR trading pairs now open. Registrations, deposits and withdrawals are now also available.”
The company has been working in order to offer fiat trading pairs for individuals in Europe and other countries. Currently, there are 58 different jurisdictions supported. In the future, the number of countries supported by the exchange could increase.
In 2018, Binance decided to move its operations to Malta, the so-called blockchain and crypto island. The reason behind this decision is the fact that the country offers better regulations and friendly legislation for crypto firms.
Binance is one of the largest crypto exchanges in the market. It registered more than $700 million transacted in the last 24 hours, according to CoinMarketCap.