Binance, the leading cryptocurrency exchange platform, will expand to the UK with an adjustable cryptocurrency platform for institutional and retail investors.
Through this platform, Binance seeks to embrace the institutional investment market and meet the increasing demand for digital assets investments in this field.
It is reported that Binance is studying 65 digital assets that it intends to place on the exchange upon launch. Investors will be able to trade these assets directly against the pound and the euro, according to Reuters reports.
As a regulated exchange, Binance trading platform will operate under the supervision of the UK Financial Conduct Authority.
The platform will allow direct deposit and withdrawal of bank accounts using the fastest payment service in the UK and the European network – Euro for payment regions. This obviously will make the platform’s encryption process more smooth for all investors.
With more maturity in the cryptocurrency market, Binance provides more investment opportunities for traders to participate in the crypto market, said Teana Baker-Taylor, Binance UK director. She added that she creates “products that provide return on participation, such as effort and passive savings.”
Dramatic institutional investment in Binance
According to Binance, its platform has increased the number of institutional clients – who have jumped 47% since the fourth quarter of 2019 – along with the simultaneous increase in trading volume.
According to Binance, institutional volumes grew 113% in the first quarter of 2020 due to immediate operations. It also recorded an increase in futures investments by 217%. To this end, Taylor said:
“The interest and participation in the UK’s digital asset markets is increasing not only in depth with existing participants, but also in the presentation.”