Binance Platform To Launch Crypto Exchanges On Every Continent
The team of Binance crypto exchange, whose volume of trading operations is the largest in the world, intends to open exchanges for both fiat funds and cryptocurrency pairs on each continent, Coindesk reports.
Changpeng Zhao, the founder of the crypto exchange, summed up the first day of the CoinDesk's Consensus in Singapore discussing several topics, including the development of his own startup and his vision of trading platforms in the future.
Zhao stated that he hopes to launch 5-10 crypto exchanges, ideally two for each continent, by the fall of 2019. Now the Binance team initiated the launch of the exchange in Singapore for exchanging fiat funds for cryptocurrency.
After the platform beta testing on September 18, Zhao assumed that the new exchange can be fully operational in a few months. Nevertheless, the work with financial institutions is not easy and may affect the timing of the launch.
During the discussion, the Binance founder stressed that he intends to develop his project with small countries. He cited the recent cooperation with Malta as an example and emphasized that such countries are more welcoming to such startups.
Zhao also noted that their action plan for small states is not the ultimate goal of the project but rather a way to search for a comfortable environment for the development and implementation of blockchain technologies. The creation of a decentralized system remains the main project concept.
As previously reported, Binance will launch beta testing of a crypto exchange in Singapore.