Crypto Exchange Giant Binance About to Enter South Korean Cryptocurrency Market
Largest cryptocurrency exchange Binance is reportedly planning to enter South Korea, one of the world’s major crypto trading markets.
According to Changpeng Zhao, the CEO of Binance, South Korea is an essential market in the emerging cryptocurrency landscape. Zhao declared that Binance stood to gain a lot by enriching its user base with the rapidly expanding virtual currency ecosystem in the country.
Binance CEO Changpeng Zhao attended the Blockchain Partners Summit in Seoul on July 21 to 22, as the keynote speaker where he underlined the importance of the South Korean market.
Binance also plans to establish three to five local corporations’ enterprises before the end of 2018. And is also in the process of hiring executives in South Korea.
It seems Binance has been considering moving to South Korea, one of the busiest crypto trading nations in the world. Earlier in August 2017, the platform began offering its website in Korean.
The number of South Korean Binance users is not that large yet. Still, it is one of the most favorite foreign cryptocurrency exchanges for South Korean traders.
Its popularity is rising with the Ministry of Justice maintaining a hard-line stance against local cryptocurrency exchanges to the point of mentioning their shutdown.
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