Binance and LCX crypto exchanges will launch a joint trading platform in Liechtenstein. It will be called the Binance LCX. On this platform, users will be able to perform transactions with cryptocurrencies in pairs with euro and Swiss franc.
The press release says that Binance will provide the platform itself and will serve it. The new company Binance LCX will deal with legal requirements, interaction with the government and customer support. The government of Liechtenstein welcomed the emergence of a new crypto company in its jurisdiction. It is known that 10-15 people will work in the company's office.
In March, the local Bank Frick began to offer customers direct investment in the five largest cryptocurrencies and "cold" storage of Bitcoin.
WHY IS IT IMPORTANT?
- With the opening of the new platform, Binance gained access to a new market. Liechtenstein is convenient for the company, as it is located in the center of Europe and is a part of the European Economic Area, which allows bypassing of certain rules of the European Union.
- The country's authorities plan to turn it into the most open state for cryptocurrencies. Now they are developing a law regarding the blockchain there.