Binance, the world’s biggest cryptocurrency exchange, is set to offer cryptocurrency trading pairs with the Euro.
According to the report in Bloomberg, Binance CEO Zhao Changpeng told the news site that the exchange will offer Euro-crypto trading later in the year from its planned European base in Malta – announced in March.
Although he added that he also intends to add other fiat pairs, the CEO did not provide any specifics regarding the timetable or what the exchange will offer.
Binance is not the first major exchange to push for fiat trading in recent months.
Less than two weeks ago, Bittrex, another leading exchange, announced that it had made banking agreements that will allow BTC-USD trades for some clients – with plans to expand the service to all retail customers.
A move from Binance however, arguably the world’s leading exchange – is nonetheless a significant as the cryptocurrency industry pushes more into the mainstream.
With Binance’s burgeoning profits – recording $150m in the first quarter of this year – it is no surprise that they have planned several new ventures in the blockchain and cryptocurency space.
Recently announcing a $1bn fund for startups under its blockchain incubator wing – Binance Labs, Zhao also said that they are set to receive an exchange license for the island of Jersey in the Channel Islands – with plans to open a 100-person office there.