One of leading crypto exchange platforms, Binance will soon allow its customers to convert digital tokens into fiat currencies. Zhao Changpeng, the CEO of Exchange said in interview to Bloomberg. It is expected that by the end of 2018 such an option will be added for the Euro. Zhao also said that another fiat currency is planned to be launched, but he did not reveal any further details. This became possible due to the company opening an office and a bank account in Malta.
Zhao added that Binance plans to obtain a stock exchange license from Jersey in the Channel Islands and has set up a 100 employees office there. The company is also negotiating with authorities and banks of Taiwan as it plans to expand further.
Founded just a year ago, Binance made a $150 million profit in the first quarter of this year, the daily turnover of the exchange ranges from 1.4 to 1.5 billion dollars, said Zhao. According to him, the crypto exchange platform provides services to around 9 million users, in comparison to 2 million at the start of 2018.