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Binance Jersey, an independent entity from its parent company, Binance, has received an overwhelming response after it’s launch on January 16th 2019, on the island of Jersey.
After just 24 hours after it launched, Binance CEO, Changpeng Zhao, has told customers that Binance Jersey has a massive backlog of KYC verifications and the company is bringing in extra resources to reduce it.
The move comes after Binance highlighted that an expansion into the European markets could provide:
“freedom from looming Brexit uncertainty where the pound and euro are also in concern.”
Traders and Investors can now Buy and Sell Bitcoin and Ethereum with Pounds and Euros
Binance.je is offering four trading pairs for now: BTC/EUR, BTC/GBP, ETH/EUR, and ETH/GBP.
Binance.je offered the first 5,000 users to register and complete the KYC 20 EUR and for a limited time, 80% commission fee referral program. THis added to the overwhelming response it has received.
CEO Changpeng Zhao took to twitter to share the news:
Wei Zhou, the chief officer at Binance stated the reason for choosing Jersey
“Binance selected Jersey for its highly developed digital infrastructure, robust regulatory framework, and world-class financial services sector.”
According to the official website:
“Binance Jersey provides secure and reliable trading of the Euro (EUR) and British Pound (GBP) with Bitcoin (BTC) and Ethereum (ETH), in addition to digital asset management services to users from around the world.”
The development of Binance Jersey came after Malta-based Binance had signed a memorandum of understanding with Digital Jersey in June 2018 to support the growing ecosystem in Jersey.