Binance, a leading bitcoin and cryptocurrency exchange company, today announced the launch of Binance Jersey, in order to provide secure and reliable fiat-to-cryptocurrency trading of the Euro (EUR) and British Pound (GBP) with Bitoin and Ethereum in Europe and the U.K. The new exchange, Binance.je, launched in Jersey following a number of crypto ventures on the island, including the world’s first regulated bitcoin fund back in 2014, and the exchange is favorably positioned to benefit the larger European economy.
“Expanding the cryptocurrency exchange markets with fiat currencies in the European region is opening new economic opportunities for Europeans as well as freedom from looming Brexit uncertainty where the pound and euro are also in concern,” said Wei Zhou, Binance CFO. “Through Binance Jersey, we want to help bridge the crypto-fiat channel for Europe and the U.K. as part of our global expansion to support broader cryptocurrency adoption.”
“Jersey has in place an existing legal and regulatory framework for cryptocurrency into which Binance Jersey easily fits,” said Zhou. “Jersey is an undisputed pioneer in blockchain development leveraged by this strong framework and talent pool. Binance Jersey hopes to increase Jersey’s competitive advantage in banking from other jurisdictions competing for cryptocurrency-related business as the island’s cryptocurrency regulation allows.”
In June 2018, Binance developed a partnership with Digital Jersey to collaborate on initiatives supporting the growing blockchain ecosystem in Jersey. Binance Jersey is also part of the cooperative effort in promoting growth, such as developing local banking relationships and local talent.
Trading pairs for the new exchange include BTC/GBP, ETH/GBP, BTC/EUR, and ETH/EUR. Binance Jersey will enable users to trade on the GBP and EUR fiat enabled exchange immediately upon account verification (KYC).