Binance Jersey has received an overwhelming response from the market for its newly launched crypto-to-fiat trading platform. The new exchange reaching out to the European region. Wei Zhou, the company’s CFO in a statement said Jersey has an existing legal and regulatory framework in place for cryptocurrency. “Binance Jersey hopes to increase Jersey’s competitive advantage in banking from other jurisdictions competing for cryptocurrency-related business as the island’s cryptocurrency regulation allows.”

The new venture came about when Binance tied up with Digital Jersey in June 2018. Zhou said Binance chose Jersey for its developed digital infrastructure and robust regulatory framework. In regards to fiat currencies, he said they were opening up new opportunities in terms of Economy for the Europeans as well as the ever-looming Brexit uncertainty. “Through Binance Jersey, we want to help bridge the crypto-fiat channel for Europe and UK.” Zhou further stated that this was part of their global expansion efforts for a broader cryptocurrency adoption. Tony Moretta, Digital Jersey’s CEO said the establishment of the new exchange was a milestone in itself. “At a time when awareness and use of cryptocurrencies is on the up, to have such a well-respected platform in Jersey, backed by the island’s trusted regulatory framework, sets us up to become a key jurisdiction in this sector.”

Binance Exchange is the world’s leading cryptocu