On several occasions we have exposed Binance’s crusade for being the largest exchange in the world, conquering every corner it can. In order to fulfill this mission, it must fight in every country, region and continent to offer its customers the best services it can. For this reason, through a press release on their blog, they officially announced a trading platform for the United Kingdom and Europe, called Binance UK.
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Trading for everyone
It is no coincidence that this new trading platform is located by Crypto Comeback Pro, with the UK being the ideal location. The reason for this is that, if we remember, each country and region has different regulations and statutes. A common example is that, if you want to trade in the United States you need the approval of the SEC.
Therefore, for Europe and the UK, you need the approval of a different body, following the guidelines required by the regulator. For this reason, Binance UK is proud to announce that it has been approved by the Financial Conduct Authority (FCA). This is the authority that regulates trading for the Europe and UK region, so it is important to have the approval of the FCA.
In addition, they announce that Binance UK will have the support of the FCA to carry out cryptomoney trading. This will allow the use of UK Sterling and European Euro.
According to the statement, they plan to launch the platform this summer. The aim is to provide a platform for small and institutional investors to trade in Europe.
“The UK is a major financial epicenter with London as the second largest financial center in the world and the main foreign exchange market,” said Binance CEO Changpeng Zhao (CZ).
“As part of our local market growth efforts around the world to provide more tangible financial access through the power of digital assets and technology, the UK is at the forefront of stimulating greater interest in the region and across Europe. We hope that Binance.UK will serve as a springboard for the next generation of finance.
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About Binance UK
The platform will provide quick and easy deposits and withdrawals for the purchase and sale of cryptosystems, through direct bank transfers via the UK’s Faster Payments Service (FPS) and the Single Euro Payments Area (SEPA) network. In this way, Binance UK allows European residents, and those who have access to the platform, to access the European crypt market in an easy way.
It can be seen that Binance has managed to get strong allies, besides the FCA.
Therefore, Binance UK will allow the acquisition of crypto currencies through debit cards. Proposing options for customers to open their own virtual bank accounts, each with dedicated sorting codes and account numbers, combined with some of the lowest rates in the market.
Verified users will be able to trade spot pairs with deep liquidity, taking advantage of Binance.com’s advanced trading platform. Finally, they announced that they will handle up to 65 digital assets by launch day.
“The UK’s pivotal role as a world leader in financial technology innovation has paved the way for disruptive technology to challenge traditional financial services. We are excited to be part of this vibrant ecosystem,” said Binance UK director Teana Baker-Taylor.
“In line with our Binance mission to increase money freedom worldwide, Binance.UK will enable UK and European customers to participate in the growing market for digital and cryptographic assets with greater confidence through a regulated platform, with access to secure and convenient payment rails at a competitive price.