Binance, one of the world’s largest crypto exchanges plans to establish fiat-to-crypto trading technology worldwide, according to Coindesk on September 19.
The CEO of Binance Zhao Changpeng who was present in the event, CoinDesk’s Concensus Singapore, discussed several topics, including the foundation of Binance.
In the course of the discussion, Zhao disclosed that the company will launch five to 10 fiat-to-crypto exchanges, ideally, two exchanges in each continent. In addition, Zhao stated that crypto market capitalization is still significantly compared to traditional financial instruments. Zhao revealed that, “Fiat is still where all the money is in and we’ve got to open that gate.” However, Bianco would focus on establishing its exchanges first in small economies before advancing into large economics.
The development will facilitate crypto market trend in small countries because it’s easy to “access to the top-level government officials and they respond to your questions more directly and efficiently. … And they do appreciate the investment you are bringing into the local economy,” Zhao explained.
The initiative to expand the company is due to the financial growth Binance has acquired since its inception.
https://medium.com/bitkub/binance-to-expand-to-other-continents-1d58a709c86d
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