More good news from Binance. After the stock exchange decided to move to Malta, it now wants to introduce the Fiat crypto trading pair. This will make it easier for new users of crypto currencies to enter the crypto world.
A lot has happened at Binance in the last few months. First they wanted to settle in Japan to escape China’s strict and unpredictable regulations. But there, too, the stock exchange was looked on the fingers. After a warning from the Japanese regulatory authority, the stock exchange looked for a safe haven. The most attractive place to go was apparently Malta. The group of islands between Sicily and the coast of North Africa welcomed the stock exchange with open arms.
After the announcement of the move, the move continues immediately. Binance, one of the world’s largest crypto exchanges, is now adding the Fiat crypto trading pair. Users will soon be able to buy crypto currencies directly in US dollars or euros. Before you had to buy your Bitcoin externally and transfer it to your wallet at Binance. Only then could Bitcoin be exchanged for other crypto currencies.
The deal isn’t closed yet, but it looks good. At the moment the stock exchange is still in negotiations with Maltese banks, says Binance CEO Zhao Changpeng. But Malta is known for its crypto-friendly climate. As early as February last year, the Prime Minister knew: “Crypto currencies cannot be stopped.” In July 2017, the announcement was made that Malta would allow crypto currencies for online casinos.
Binance now more attractive for newcomers
The news that Binance is now settling in Malta has several positive aspects for the crypto-ecosystem. Once the exchange has clarified the terms with Malta, users can trade more comfortably. Ultimately, the unclear legal situation, including threats of prohibition and warnings, repeatedly caused uncertainty in the markets. Liquidity is also increased by the Fiat crypto pair. This makes it easier for new users and interested parties to enter the crypto world.