Binance launches a new platform in the UK

This week, Binance announced another regional licensed exchange, Binance.UK. The move further underscores a trend to such structures and speaks to further fragmentation in crypto liquidity

The new platform Binance U.K. will provide regulated crypto trading services for British and European investors.

Binance announced that it will launch a regulated trading platform for institutional and retail investors in the UK called Binance.UK.

The exchange will be able to trade 65 digital assets for euros and pounds. In addition, traders will be able to buy and sell digital currencies through direct bank transfers through Faster Payments Service and the Single European Payment System (SEPA). In doing so, Binance.UK will comply with the requirements of the Financial Services Authority (FCA).

Former head of London’s Coinfloor crypto exchange and current CEO of Binance.UK Teana Baker-Taylor noted that interest of British financial institutions to cryptocurrencies is constantly growing. Thus, in the first quarter of 2020 the number of institutional clients on the Binance platform increased by 47.4% compared to the fourth quarter of last year.

As crypto services developed, Binance management decided to create new options to attract traders with different needs. Last year Binance launched Latamex, a new crypto-feature platform for Latin American users, and introduced the trading platform in Singapore. In April, Binance management announced the launch of an over-the-counter trading platform.

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