Cryptocurrency exchanges and LCX, through their joint venture Binance LCX, have launched a fiat-to-crypto exchange in Liechtenstein on Thursday. Initially, the exchange will allow investors to trade Swiss Francs (CHF) and Euros (EUR) against major cryptocurrency pairs, with more crosses set to be added in the future following regulatory approval.
According to the statement, Binance will provide and maintain the platform, whilst Binance LCX will be responsible for managing customer support, legal requirements, due diligence and a range of other duties. The joint venture aims to build a team of up to 15 people in its Liechtenstein office to accomplish this. The firm has started the hiring process, effective immediately, the statement said.
Source: LinkedIn
Source: LinkedIn
Liechtenstein provides a supportive environment for Binance LCX
Liechtenstein provides a supportive environment for cryptocurrencies so it is no wonder Binance and LCX have chosen to launch their joint crypto exchange in the country. Not only is it conveniently positioned geographically, it is also regulation friendly to the alternative assets. The country plans to introduce the Blockchain Act Liechtenstein. This will give the industry a comprehensive and holistic legal structure and it will be a basis for an entire token economy.
Source: Alchetron
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