Binance will offer CRYPTO / EURO trading pairs via Malta

Binance continues its momentum after quadrupling the number of its users this year. It will soon offer the possibility of trading between currency pairs and cryptocurrencies on a Maltese platform.

A new platform based in Malta

The conversion of fiduciary currencies into cryptocurrencies and vice versa will now be possible very soon via the trading platform of Binance.

"The crypto-stock market will soon allow clients to convert digital tokens into currency," she said.

In light of this revelation, a representative was quick to provide some clarification in order not to induce any user in error.

"Binance is a CRYPTO / CRYPTO trading platform. In addition, a new platform for the transfer of fiat currencies and cryptocurrencies will be launched in Malta in the near future. "

CRYPTO / EURO trading from 2018

The first pair allows exchange in Euro - with the pair BTC / EURO for example. Thus, users will be able to directly exchange digital currencies with the Euro.

Zhao Changpeng, CEO of Binance told Bloomberg :

"The site will allow the trading of the Euro this year thanks to the cooperation of the Maltese authorities. Other fiduciary currencies will subsequently be added by the new trading platform. According to Zhao

And Binance does not intend to stop so well , it has already grown from 2 million users in January 2018 to 9 million today.

However, this impressive increase in the number of users had no positive impact on the company's revenue. Its profits dropped from $ 200 million in the fourth quarter last year to $ 150 million in the first quarter this year.

The financial decline however did not prevent the technology giant to reinvest in the Blockchain.

"The launch of a venture capital fund estimated at $ 1 million will support cryptocurrencies and the development of Blockchain," Binance announced in early June.

The confidence shown by the CEO of the cryptocurrency trading platform suggests that Binance could obtain support from one or more international financial institutions . Although no details have been released, Zhao has made it clear that talks with Taiwanese regulators and banks have begun.

What do you think of the exchange between fiduciary currencies and cryptocurrencies? Comment in the comments section below.