Digital Jersey Signed a Memorandum of Understanding (MOU) with Crypto Exchange Binance
Binance, the world’s largest cryptocurrency exchange has selected Jersey for its highly developed digital infrastructure and world-class financial services sector as it expands into the European island of Malta.
Digital Jersey, an independent organization that represents Jersey’s digital industries, signed a memorandum of understanding (MOU) with cryptocurrency exchange Binance, solidifying its intentions to expand its operations beyond Malta after its transfer from Japan, where it faced problems with respect to its registration status and legality.
Binance secured its negotiations with Digital Jersey shortly after it declared its intentions to list fiat pairs including the Euro by the end of this year.
Digital Jersey is to collaborate with Binance on developing blockchain ecosystem in Jersey. Binance will be tasked with developing a compliance base and cryptocurrency exchange whilst Digital Jersey will be responsible for training, support, regulatory compliance/requirements/licensing and creating banking relationships.
Digital Jersey will also support Binance in discussions on anti-money-laundering regulations. The government of Jersey clearly understands the advantages of developing blockchain technology on the island.
Zhao Changpeng, Binance’s CEO, spearheaded partnerships with Taiwanese banks and Jersey’s economy in order to further his plans for Binance’s expansion.
Binance CEO, Changpeng Zhao, said, “We have chosen Jersey to be the next big step in our global expansion strategy for its clear and pro-crypto investment and regulatory environment. With its local economy based on a major currency (GBP), and its close proximity to the UK and Western Europe, we are confident the cooperation with Jersey will not only benefit the local economy, but also form a strong operational foundation for our expansion into the rest of Europe.”
Binance exchange also announced it will create up to 40 new jobs in Jersey. The exchange operator unveiled the plan in a joint statement with local organization Digital Jersey.
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