Binance, one of the largest exchanges of digital currencies in the world, intends to provide its users with the ability to convert digital tokens into fiat currencies, in particular the euro.
In an interview with representatives of Bloomberg Changpeng Zhao, CEO of Binance, said that the plan to approve the trading on the stock exchange could be realized by opening an office in Malta. Zhao also announced his intention to grant access to other fiat currencies but refrained from disclosing details.
It should be noted that most popular crypto-exchange platforms allow their users to conduct transactions only with digital currencies – this activity is less subject to regulators’ attention, but deprives traders of a number of opportunities, in particular, withdrawal of funds.
Founded in July, the Binance Exchange’s earnings for the first quarter were $150 million, with daily trading volumes of $1.4-1.5 billion. Zhao also reported that at the moment the stock exchange has 9 million users, at the beginning of the year there were slightly more than 2 million.
In addition, Zhao noted that very soon Binance will receive an exchange license from Jersey (Channel Islands) – where representatives of Binance also plan to open an office, the number of employees will reach 100 people. The company also continues to negotiate with Taiwan authorities and banking institutions.