Binance, Exchanges

Is Binance Working in UK?

Binance, the world’s largest cryptocurrency exchange by volume, is now live in the UK. The Malta-based firm announced the launch of its UK platform on Tuesday.

The UK platform will allow users to buy, sell, and trade cryptocurrencies with pound sterling (GBP) and euro (EUR) fiat currencies. Binance said the move is part of its “global expansion” plans.

Binance first hinted at its UK launch last month when it announced a “strategic partnership” with digital banking startup ClearBank. The deal will see Binance using ClearBank’s infrastructure to provide GBP deposits and withdrawals for its UK customers.

At launch, Binance will support four cryptocurrencies – bitcoin (BTC), ether (ETH), Ripple’s XRP, and bitcoin cash (BCH) – with more to be added in the future. Trading fees on the platform will be 0.

NOTE: This is a warning to anyone considering using Binance in the UK. Binance is not currently authorized or licensed by the Financial Conduct Authority in the UK, and it is not legally allowed to offer its services in the UK. Any transactions conducted with Binance in the UK are at your own risk and may be subject to legal action.

1 percent for each trade.

Binance CEO Changpeng Zhao said the UK launch is part of the firm’s plans to “serve the greater global economy.” He added: “The United Kingdom is one of the major financial centers in the world with a sound regulatory regime.

We believe our presence will promote greater adoption of blockchain technology and positive developments in the fintech sector.”.

The launch comes just weeks after Binance expanded its operations in Singapore with the launch of a Singapore-dollar (SGD) fiat gateway on its platform. The firm also has plans to launch a crypto-fiat exchange in Uganda.

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