The leading cryptocurrency exchange Binance has announced it will debut fiat-to-crypto pairs this year, starting with the euro.
CEO Changpeng Zhao told Bloomberg the platform will enable euro trading in a matter of months, since relocating its headquarters to Malta. The company moved to the small island nation in the Mediterranean after facing pressure from regulators in Japan. It hopes to collaborate with the Malta Stock Exchange.
But Binance is not stopping there. Zhao has confirmed that more fiat-to-crypt pairs are on the way, although he’s not yet revealing which currencies will be supported.
The news is big for cryptocurrency traders, as a relatively small number of exchanges currently allow users to turn their cash into cryptocurrency directly.
Binance has also revealed that the company is in talks with regulators and banks in Taiwan and is about to earn an exchange license from Jersey in the Channel Islands.
Binance has also announced a $1 billion fund to invest in cryptocurrency and blockchain startups.
The company says it will center its investments on specific aspects of blockchain technology like decentralized exchanges, payment platforms and stable coins.