One of the leading crypto exchanges Binance intends to provide its users with the opportunity to trade fiat. It is expected that by the end of 2018 this option will be available, Bloomberg reports.
This statement was made by the CEO of Binance Changpeng Jao.
According to him, the addition of fiat pairs was made possible by opening an office and a bank account in Malta. Also, the exchange plans to add other financial currencies, but the head of the exchange did not disclose the details at this stage.
In addition, Binance plans to obtain an exchange license for Jersey Island and to open an office there with a staff of 100 employees. The company also negotiates with the authorities and banks of Taiwan, Changpeng Jao added.
Binance Exchange was founded in July 2017 and by now the number of users of the exchange is 9 million people, while at the beginning of the year there were 2 million. In the first quarter of this year, the company earned $ 200 million with an average trading volume in the range between $ 1, 4 - $ 1.5 billion.