One of the leading cryptocurrency exchange Binance will be expanding to the United Kingdom with a regulated crypto trading platform for both institutional and retail investors. The crypto exchange aims to tap the institutional investment market and meet the rising demand for digital asset investments in the United Kingdom. Binance is reportedly reviewing 65 cryptocurrencies that it plans to list on the UK exchange at launch. According to the Reuters report, investors will be able to trade these assets directly against pounds and euros.
Binance will operate under the supervision of the UK Financial Conduct Authority.
According to the report, Binance’s trading platform will function under the supervision of the UK Financial Conduct Authority. The crypto trading platform will allow direct deposits and withdrawals from bank accounts using the UK Faster Payments Service and the Single Euro Payments Area network. This will purportedly make the crypto trading experience on the trading platform smoother for all investors. The director of Binance UK, Teana Baker-Taylor, said that with more maturity in the crypto market, Binance is creating more investment options for traders to participate in the crypto market.
Binance continues to dominate the crypto industry.
Crypto exchange Binance is among the leading exchanges in the world, and it is expanding its horizon each passing day. The exchange has been on an acquisition spree for a long time as it continues to acquire more business all over the world. Earlier, Binance launched its mining pool. The crypto exchange got mixed reactions from the crypto community, with some expressing concerns that Binance’s pool will further centralize the Bitcoin hash rate among a small number of pools. Many in the crypto community fear a monopoly of Binance in the coming time. However, the exchange has denied all such claims and stated that they believe in co-existing.