Binance– a top ranking global crypto exchange will be expanding its services to Europe. The exchange confirmed this in a recent post on its official blog. With the launch of Binance’s EUR/GBP Fiat Exchange — Binance.je, (Binance Jersey) European clients will be able to perform fiat-to-crypto trading of the Euro and British pounds with Bitcoin and Ethereum on the platform.
Binance Jersey is Now Live
Binance made it known that the Binance Jersey is now live and account registration on the platform for clients within Europe and the United Kingdom is ongoing. Users can also make a deposit as well as withdrawals on the platform.
In order to promote the platform, the exchange is planning to give the first set of people who register on the platform and complete their KYC registrations some amount of money.
This was confirmed in a recently released blog post on the binance official page.
The post stated that:
“The first 5,000 users to complete Account Verification (KYC) on www.binance.je between January 16, 2019 and January 31, 2019 at 0:00 UTC will each be rewarded with 20 EUR. Register now to begin trading!”
It is, however, important to know that some rules apply to the distribution of the cash bonus.
According to Binance, the following terms and conditions apply to the distribution of the bonus.
“1. Binance.je reserves the right to cancel or amend the promotion or promotion rules at our sole discretion.
2. Rewards will be issued within 7 working days after the promotion ends. You will be able to log-in and see your reward via the Distribution History section in the Account Center.
3. Rewards can only to be used to pay for transaction and withdrawal fees and cannot be withdrawn.”
According to the report, Binance is of the opinion that the launch of the Binance Jersey is a major step in its plans for global domination. It was also explained that the new exchange will do well in ensuring that the Binance brand is known to the audience from the European markets. It could also provide “freedom from looming Brexit uncertainty where the pound and euro are also in concern.”
In its preparation towards the launch of the new exchange arm, it was reported that Binance signed an (MOU) with an independent organization that represents Jersey’s digital industries— Digital Jersey.
According to a press released accompanying the MOU announcement, Binance and Digital Jersey will be working towards the development of a compliance base and cryptocurrency exchange on the island.
In-line with the MOU, Digital Jersey will also be providing blockchain focused training “as part of their digital skills program and other services with the purpose of promoting the blockchain industry in Jersey, as well as support Binance in discussions about compliance with AML regulations.”
It was also reported back then that “Digital Jersey will also assist the exchange in establishing licensing and banking relations on a local level.”
Tony Moretta, CEO of Digital Jersey, also issued a statement regarding the Agreement back then.
He stated that:
“We can provide a permissive sandbox for innovative crypto businesses to thrive without moving away from the generally high standards of regulation that apply in our jurisdiction. We look forward to collaborating with Binance to develop their exchange and compliance function in Jersey, deliver blockchain training as part of our digital skills program and support the growth of new startups in this area.”
Binance is a blockchain focused organization which consist of an Exchange, a Labs, Academy, and Charity Foundation and a Launchpad.
Currently, the Binance Exchange is the number one cryptocurrency exchange by trading volume globally. The exchange is also one of the fastest in the world as it reportedly processes more than 1.4 million orders per second.