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Binance Plans European Expansion With Jersey Exchange

Distributed Summary:

  • Mega crypto exchange opens fiat-to-crypto exchange on British island
  • Accepts transactions for BTC and ETH using euros and pounds
  • Could signal European expansion plans from Binance

One of the world’s largest cryptocurrency exchanges, Binance, has opened up a new fiat-to-crypto exchange in Jersey, a British-controlled island off of the coast of northern France.

Binance announced the news on its website, linking to a new binance.je site where these exchanges will take place. According to the announcement, the site accepts transactions for BTC and ETH with euros and the British pound, enabling “trading pairs … registrations, deposits and withdrawals.”

The location of this new exchange might be of particular significance for any European expansion plans Binance might have. The euro is not legal tender in the United Kingdom, yet the euro is a top priority for fiat currencies tradeable on this platform. A look at Binance Jersey’s jurisdictions page reveals that the exchange is supported by nearly every country in Europe, including several that are not in the European Union.

As an added bonus, the announcement claims that “the first 5,000 users to register and complete Account Verification (KYC) on www.binance.je will be rewarded with 20 euros.”

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