Binance and Exchange scriptaction of Liechtenstein (LCX) announced the creation of a joint venture Binance LCX, which will launch a new trading platform to exchange Fiat to cryptocurrencies, according to a press release from the companies.
A new exchange will be located in Liechtenstein and the exchange offer the Swiss franc and the Euro on the major digital currency. The number of supported cryptocurrencies will be expanded in the future upon receipt of the approval of the regulator.
Binance will provide a platform and to serve her, and Binance LCX will support clients compliance with legal requirements and cooperation with the government.
The Prime Minister of Liechtenstein Adrian Hasler commented on the news:
“We are confident that the current and future legal framework and practices of Liechtenstein is able to provide a reliable base for Binance LCX and other blockchain-companies wishing to provide services of exceptional quality”.
Recently, Liechtenstein has taken a favorable position for the development of the cryptocurrency business, following the example of neighbouring Switzerland. Recently in Liechtenstein new legislation has been developed for the sphere of the blockchain, providing legal and regulatory certainty to the business and customers.
CEO Binance Changpeng Zhao said that the new platform will be a reliable tool for the exchange of Fiat to cryptocurrency, for use by both Amateurs and professional investors. “I hope that Binance LCX will set a new standard of consumer properties and legal compliance in the industry of the blockchain, and we are pleased to provide relevant expertise and guidance to expand their team in Liechtenstein”, — he said.