Binance seems to be preparing the UK for the upcoming launch of its new dedicated cryptocurrency trading platform for its residents.
On June 17, Binance announced the upcoming launch of Binance.UK, a new entity regulated by the UK Financial Conduct Authority (FCA), which will operate a new cryptocurrency trading platform focused on the UK, where users could pay with British Pounds (GBP) and Euro (EUR). The launch was originally scheduled for the summer, but the launch appears to be scheduled for the fall.
Bitcoin ads Binance.UK
Binance added that the platform will provide access to quick and easy deposits and withdrawals to buy and sell digital currencies through direct bank transfers through the UK Faster Payments Service (FPS) network and the Single Euro Payments Area (SEPA) network.
He added that “other features will include fiat-to-crypto exchange via debit cards and the ability for customers to open their own virtual bank accounts, each with an assigned sort code and account number, combined with the lowest fees on the market.”
Binance co-founder and CEO Changpeng Zhao (aka “CZ”) said:
“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. We hope Binance.UK will serve as a stepping stone for the next generation of finance.”
Last Thursday (August 27), Binance announced that Binance.UK had joined CryptoUK, the UK’s “self-regulatory trade association representing the cryptocurrency sector” (launched in early 2018):
“Binance.UK will assume a seat on the CryptoUK Executive Committee, alongside Coinbase, Coin Shares, CryptoCompare, eToro, and Ripple. Together this group of industry experts and stakeholders collaborate to lead the Association’s strategic direction. This includes the Association’s Code of Conduct, policy positions, and governance to ensure the U.K. fulfills its global leadership potential in this quickly developing and expanding industry.”
On Friday (August 28), Binance.UK launched the #TakingOverLondon campaign on Twitter. Binance has placed ads promoting Bitcoins as a further development of money at various bus stops throughout London, and if you were one of the first 70 people to tweet (with the hashtag mentioned above) a selfie taken at one of these places, you could win a gift from Binance:
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