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Alternative Market Briefing

Binance LCX launches fiat-to-crypto exchange in Liechtenstein

Friday, August 17, 2018

Laxman Pai, Opalesque Asia:

Binance LCX, a joint venture between Binance and Liechtenstein Cryptoassets Exchange (LCX), has announced the launch of a fiat-to-crypto exchange.

According to a press release the new trading platform will be located in Liechtenstein and offer trading between Swiss Francs (CHF) and euros (EUR) against major digital currencies pairs, subsequently adding more trading pairs following regulatory approvals.

The new exchange will also include crypto custody. Binance will provide and support the platform, while Binance LCX will lead customer support, regulatory compliance, and government communication.

A formal event was held on August 16 to discuss the new exchange including the participation of Binance CEO Changpeng Zhao and Michael Arrington, founder of Techcrunch and partner at XRP fund. Adrian Hasler, Prime Minister of Liechtenstein, welcomed Binance LCX to Lichtenstein: "Blockchain technologies are laying the basis for an entirely new industry. We are confident that Liechtenstein's existing and future legal framework and practice provide a robust foundation for the Binance LCX and other Blockchain companies to provide exceptional services here in Liechtenstein."

Zhao commented on the new partnership calling it a reliable and sustainable project for both retail and professional investors: "I hope Binance LCX will drive new standards for usability and compliance for the blockchain industry, and we are very excited to bring the relevant......................

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