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Binance Jersey Is Launched, Overloaded With New Registrations

18 January 2019 12:15, UTC
Binance Jersey Is Launched, Overloaded With New Registrations

On January 16, the launch of the new Binance platform, which allows “crypto-fiat” trading pairs, took place. The platform is registered on the Jersey island. The CEO of Binance, Changpeng ZHAO noted that on the very first day after the official opening of, the exchange was literally overloaded with new registrations:

“ is overwhelmed with registrations. There is a backlog of KYC verifications already. More resources are allocated to reduce it. In the meantime, we appreciate your understanding and patience. The registration prize is FIFO based, no worries. Just crazy! One thing we do “well” is underestimating ourselves, and the market.”

The new platform will allow users from Europe and the U.K. to trade BTC and ETH to the British pound and the euro. Wei ZHOU, CFO at Binance, commented that crypto-fiat trading would inflict positive effect on the adoption of cryptocurrency as an asset:

“Expanding the cryptocurrency exchange markets with fiat currencies in the European region is opening new economic opportunities for Europeans as well as freedom from looming Brexit uncertainty where the pound and euro are also in concern. Through Binance Jersey, we want to help bridge the crypto-fiat channel for Europe and the U.K. as part of our global expansion to support broader cryptocurrency adoption.”

Binance collaborates with Digital Jersey, the government-backed economic development agency and industry association. According to the preliminary information, the new exchange would create about 40 jobs on the island.

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