Cryptocurrency exchange Binance this Wednesday announced the expansion of its presence in the European market with the launch of the new crypto-Fiat trading platform. This writes Cointelegraph.

Official Launch of #Binance’s EUR/GBP Fiat Exchange

— Binance (@binance) January 16, 2019

According to a press release, the new platform will be called Binance Jersey and will support the possibility of exchange of the Euro and the British pound for bitcoin and Ethereum. Access the crypto-Vietnam pairs BTC/GBP, ETH/GBP, BTC/EUR and ETH/EUR will be provided to users after verification.

According to Binance, new opportunities for investing in crypto currencies in the European markets can give their participants “freedom in conditions associated with Brexit uncertainty, which pass themselves of the Euro and the pound.”

As the name implies, the new trading platform registered in the Isle of Jersey is a British crown dependency.

“Binance chose Jersey because it has a highly developed digital infrastructure, a reliable regulatory framework and financial services sector world level”, — quotes the words CoinDesk financial officer Binance Wei Zhou.

According to Zhou, Binance Jersey is an independent entity, but uses technology from the parent exchange

Binance began to cooperate with the government’s economic development Agency, Digital Jersey in June 2018. CEO Binance Changpeng Zhao then said:

“Since the local economy is based on the major currencies (British pound), and the jurisdiction close to the UK and Western Europe, we are confident that cooperation with the Jersey will have a positive impact not only on the local economy, but also help to lay a solid operating Foundation for the further expansion of our company in Europe”. Discuss current news and events on the Forum