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Laxman Pai, Opalesque Asia:

Binance, which claims to be the world's largest cryptocurrency exchange, has expanded into the European market with its entry into the Island of Jersey, a self-governing dependency of Great Britain.

The offshore law firm Carey Olsen has provided legal and regulatory advice to Binance for the launch of its Jersey platform, along with JTC who provided corporate services for the launch. JTC is the provider of fund, corporate and private wealth services to institutional and private clients.

The new exchange called Binance Jersey will allow users to trade Bitcoin and Ethereum for euros and pounds.

"Binance Jersey will provide secure and reliable Sterling and Euro to cryptocurrency (Bitcoin and Ethereum) exchange, enabling investors in Europe and beyond easy access to the rapidly evolving cryptocurrency market, and an alternative to standard currency (fiat) exchange," said a statement from Binance.

Binance signed a Memorandum of Understanding (MoU) with Digital Jersey in July 2018 with the intention of launching Binance Jersey, which is set to be a significant asset to Jersey, financially and reputationally, as well as to the exchange going forward.

The Carey Olsen team was led by partner Chris Griffin, assisted by Holly Brown, Daniel Burridge and Tarina Le Boutillier. Counsel Huw Thomas and Adele Browne also advised Binance on the data protection elements involved.

JTC provided a range of specialist services to 'incubate' Bin......................

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