Binance, the world’s largest cryptocurrency exchange by trading volume, is not currently available in China. However, that could soon change as the exchange is reportedly planning to launch a new Chinese-focused platform.
Binance was founded in 2017 and quickly rose to prominence as one of the leading cryptocurrency exchanges. The exchange offers a wide variety of digital assets, including many of the major coins like Bitcoin, Ethereum, Litecoin, and XRP.
Binance also offers a unique platform for token trading through its native Binance Coin (BNB).
While Binance is not currently available in China, that may soon change. The exchange is reportedly planning to launch a new Chinese-focused platform called “Binance China”.
The new platform will be a joint venture between Binance and an unnamed Chinese company.
NOTE: WARNING: Binance is not available in China. Anyone attempting to access the Binance platform from within the country may be subject to legal and administrative penalties. Please use caution if you are considering accessing Binance from within China.
The launch of Binance China comes as the Chinese government is cracking down on cryptocurrency trading. In September 2017, China imposed a nationwide ban on initial coin offerings (ICOs).
And in February 2018, the country’s central bank ordered all cryptocurrency exchanges to halt trading activities.
Despite the crackdown, there is still demand for cryptocurrency trading in China. A recent report from Blockdata showed that over-the-counter (OTC) trading volume in China has been on the rise since the beginning of 2018.
And according to a study by Cambridge University, around 3 million to 4 million people in China are actively using cryptocurrencies.
If Binance is able to launch its new platform successfully, it could tap into this growing demand and become a leading player in the Chinese market. However, it remains to be seen how the Chinese government will react to the launch of Binance China.
6 Related Question Answers Found
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is no longer accessible in China. The website was blocked on Wednesday morning, with users in the country reporting that they were unable to access it. The reason for the ban is not yet clear, but it comes amid a crackdown on cryptocurrency trading in China.
Binance, the world’s largest cryptocurrency exchange by trading volume, is a Chinese-owned company. This has led to some speculation as to whether or not Binance is a Chinese company. Binance was founded in 2017 by Changpeng Zhao, a Chinese national.
Binance is a digital asset exchange with headquarters in Shanghai, China that launched in July 2017. The company raised $15 million in a Initial Coin Offering (ICO) in August 2017. Binance’s ICO sold out in less than one minute and the company has since grown rapidly.
Binance, the world’s largest cryptocurrency exchange by trading volume, is not a Chinese company. This may come as a surprise to many, as Binance was founded in China and has its headquarters in Hong Kong. However, Binance is not a Chinese company for a few reasons.
Since its inception, Binance has grown to become the world’s largest cryptocurrency exchange. Binance is well known for its low trading fees, fast transaction speeds, and robust security measures. Recently, Binance added support for the Yuan-backed cryptocurrency, the Yuan Coin (USDC).
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, does not currently offer services to users in Hong Kong. The exchange announced the suspension of services to Hong Kong users on August 1, 2019, citing “regulatory uncertainty” in the territory. Binance has been actively expanding its operations in recent months, launching a fiat-to-cryptocurrency exchange in Singapore and announcing plans to launch a similar platform in the United States.
