Binance Plans To Launch Crypto Exchange in South Korea
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July 16, 2019

Binance, the world's largest cryptocurrency trading platform by adjusted trading volume, is considering the possibility of opening a branch in South Korea.

More particularly, the firm is reportedly working to open a local fiat-to-crypto exchange in the country.

Changpeng Zhao, the company's CEO, confirmed this possibility today to the local publication Block In Press, stating that the exchange is currently "working with local partners, but we do not know the details."

However, the trading platform has established a trading entity called Binance LLC, whose director is Jiho Kang of BXB Inc, a company that offers a stablecoin backed by the South Korean won.

Earlier this year it was reported that Binance wanted to expand its services to South Korea, among other countries.

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