Binance is evolving. It has taken the United Kingdom market by storm. There are visible hoardings and banners visible on the London bus stops.
“Money is evolving. It’s time to adapt. #TakingOverLondon,” Binance tweeted.
This comes after Binance had announced in June the launch of Binance.UK, a new digital and crypto asset marketplace for buying and trading cryptocurrencies with British Pounds (GBP) and Euros (EUR), coming this summer. Designed for U.K. retail and institutional investors alike, including crypto novices, Binance.UK will also serve European customers. Binance.UK will be operated by Binance Markets Limited.
The marketplace will provide access to fast and easy deposits and withdrawals for the buying and selling of digital currencies through direct bank transfers via the UK Faster Payments Service (FPS) and Single Euro Payments Area (SEPA) network.
Additional features will include fiat-to-cryptocurrency on-ramps via debit cards and options for customers to open their own virtual bank accounts, each with dedicated sort codes & account numbers, combined with some of the lowest fees in the market. Verified users will be able to trade spot pairs with deep liquidity while leveraging Binance.com’s advanced trading platform. Up to 65 digital assets are being considered to be available at launch.
“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). “As part of our local market growth efforts around the world to bring more tangible financial access through the power of digital assets and its technology, the U.K. is at the forefront of spurring larger interest in the region and throughout Europe. We hope Binance.UK will serve as a stepping stone for the next generation of finance.”
As an affiliate of Binance, Binance.UK connects to the broader ecosystem of Binance while catering to the U.K. and European markets. Its localized approach and service also include active participation and engagement with local communities and governments to ensure a high industry standard and user-first model.