According to a recent report, in response to a previous report regarding the agreement between the government of Argentina and the Binance Labs to co-invest in blockchain projects which the exchange supports, the Chief Executive Officer of Binance, Changpeng Zhao hinted that the exchange intends to launch a new fiat-to- Crypto exchange in the country.
Binance Labs is the Investment and Social Wing of the Exchange
The intention was revealed by the CEO via the exchange’s Twitter account. The tweet stated that: “Guess where we will have a new fiat-to-crypto exchange?”
The tweet was in reply to a recently published article concerning the agreement between the government of Argentina and Binance Labs.
Binance to Launch in 8 Countries
A previously released report containing a spreadsheet revealed that the exchange is planning to launch fiat-to-crypto exchanges in eight more countries “Uganda— which launched in October — and just-live Jersey, Singapore, Malta, South Korea, Liechtenstein, Argentina, Russia, Turkey and Bermuda.
Following this, a report which was released in January however did stated that one of the representatives of the exchange when asked where these new exchanges will be situated refused to confirm six of the alleged locations but only confirmed plans for Singapore and Malta. It was also confirmed that the Bermuda plan is still under consideration.
With the exchanging launching in Jersey Europe, it is clear that the brand is set on dominating the crypto exchange industry. According to previous report, the newly launched exchange was a product of an MoU signed last year by the Exchange and the base country.
In January also, Binance formed a partnership with Simplex which is a payment processor in order to show its support for the buying of crypto using a credit card.
eToro Opens Virtual Currency Trading Services in the U.S
In more recent news, eToro, exchange a social network for investors and traders opened its virtual currency trading services in the U.S. The exchange intends to trade 13 unspecified crypto assets and launch a virtual currency multisignature wallet to its over 10 million in 32 U.S. states and territories.