Crypto Exchange Binance Plans for Future Expansion on Five Continents
One of the world’s biggest cryptocurrency exchanges by traded volume Binance has revealed its plans to expand to the world by opening “five to ten” fiat-to-crypto exchanges across five continents of the world.
Speaking at the event in Singapore, after Binance launched a fiat branch there, Zhao spoke about creating his exchange, developing it and plans for further expansion.
CZ indicated that within a year, he hopes, five to ten new fiat-to-crypto exchanges with a presence on every populated continent. Binance has focused on crypto-to-crypto trading, but as CZ notes “Fiat is still where all the money is in. … And we’ve got to open that gate.”
Having conducted closed testing on Tuesday, CZ said he hopes the platform could be up and running within months, though he added that working with banks and regulators is much harder than just with cryptocurrencies. Stating:
“You can 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 said that in the long-term, as the cryptocurrency matures, the company plans to shift towards a completely decentralized exchange.
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