Binance to Open Office in Malta

Move to sunny island comes after crackdowns in Japan, China
23 March 2018   1592

The Binance Exchange plans to open an office in Malta. This is reported by Bloomberg.

In the near future, Binance will begin to service trades under the "fiat-cryptocurrency" scheme. The exchange is already close to concluding an agreement with Maltese banks, which will allow it to handle the input / output of fiat, Zhao said, without specifying a specific time frame.

The restrictions imposed by the authorities of China and the United States forced Binance to seek new jurisdiction to host its business. The exchange tried to get a license from a Japanese regulator and even opened its office in the country, but then they was forced to close it to avoid problems with local authorities, Zhao said. Financial Services Agency of Japan issued a warning to Binance this Friday for the trade without a license.

Zhao said that he continued to negotiate with the regulators of Hong Kong, but this did not lead to anything. Binance was among the seven crypto-exchange sites that received a warning from the Securities and Exchange Commission of Hong Kong, which demanded that they not trade digital assets designated as securities.

Malta tries to develop cryptocurrency industry. The government held several public consultations on the regulation of cryptocurrencies, ICO and trading platforms.

Zhao said that he was invited by the Maltese government to participate in the process of preparing the law to regulate the industry of crypto-currency.

Binance DEX to List 5 TrustToken Stablecoins

Binance DEX listed TrueUSD, TrueGBP, TrueAUD, TrueCAD and TrueHKD, tied to appropriate fiat currencies
08 August 2019   303

Non-custodian exchange Binance DEX in the near future conducted a listing of five new stablecoin issuer TrustToken, The Block reports.

As TrustToken said, Binance DEX added TrueUSD, TrueGBP, TrueAUD, TrueCAD and TrueHKD, exchange rates related to the US dollar, Australian dollar, Canadian dollar and Hong Kong dollar, respectively.

All five assets will be released on the blockchain. Until this moment, TrustToken stablecoins were available only in the format of ERC20 tokens on the Ethereum blockchain.

Binance DEX has new opportunities for making financial contributions. TrueUSD trading on Binance DEX should start on August 8th. Listing suggestions for other TrustToken stablecoins will be issued in the coming weeks.

TrustToken plans to launch its new or two additional blockchains before the end of the year and the new TrueSGD, the rate of which will be tied to the Singapore dollar, “soon”.