Will the UK Version Feature a Limited Asset List Like the US?
Earlier today Binance has revealed that they plan on releasing a UK version of their cryptocurrency exchange. The UK platform will launch sometime during the Summer of 2020.
Like the US version, the British version of the exchange will have its own dedicated URL which will be Binance.UK. The platform will be designed for both retail and institutional investors and will also server European clients. Binance's new UK platform will enable UK Faster Payment Services (FPS) and and Single Euro Payments Area Network (SEPA) for faster bank transfers. Additionally, traders will be able to deposit and withdraw funds in the form of GBP and EURO.
The announcement did not make note of credit or debit card transactions.
Binance & the UK
"The U.K. is a significant financial epicenter with London being the second-largest financial center in the world and the leading market for foreign exchange," said Binance CEO Changpeng Zhao (CZ)
London has immense financial significance and is one of the most important European capital cities. Should Binance become a platform of choice for some of the many financial institutes located in the city, it could be big for the exchange.
Once the platform launches, and should it be successful like most Binance products, it will likely greatly benefit the exchange. This might even reflect positively in the value of their native exchange token, BNB.
Seeing that both the US and the UK received dedicated local versions of Binance, one can guess which country will be next.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado