Copy link
Increase text size
Decrease text size
Link copied

Binance plans to launch support center in South Korea after local startup investment

Image by PIRO4D from Pixabay

Wed, 15 Jan 2020, 07:28 am UTC

Binance will be launching a support center in South Korea through its subsidiary company Binance Co. Ltd, CoinDesk reported.

Cryptocurrency exchange Binance brought 500 million won ($432,000) worth of stake in Korean fintech firm, BxB. Binance CEO Changpeng “CZ” Zhao said that they work with local partners across regions to "jointly realize our shared mission in furthering cryptocurrency adoption globally," adding that the investment in BxB is another step in exploring growth potential in Korea.

Following their investment, the two firms revealed their plans to launch a new support center for users. For the first time, Binance publicly acknowledged Binance Co. Ltd, as its subsidiary. Binance Co. Ltd. was registered in Korea in October 2019 and they will operate the new support center with BxB.

“Binance is currently developing a future plan for the Korean market with BxB. We are reviewing what kind of business Binance Co., Ltd. will carry out in Korea, in addition to operating the customer support center,” Zhao said.

The investment was made directly from Binance and not through Binance Labs.

The partnership also opens the possibilities of having BxB’s KRWb stablecoin linked to Binance’s BNB token to facilitate trading on Binance. However, the exchange platform currently doesn’t have a Korean won gateway.

Earlier this year, Binance announced that the users can now trade six major cryptocurrencies including two stablecoins, against euro. The six euro trading pairs include BTC/EUR, ETH/EUR, BNB/EUR, XRP/EUR, EUR/BUSD and EUR/USDT.

“One of our key goals for 2020 is to bring crypto to the masses. For this, we aim to enable fiat-to-crypto trading for 180+ fiat currencies,” Zhao said about the fiat-to-crypto exchange.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $8,865.01 (-0.43%)
  • Ethereum (ETH) $168.78 (-0.76%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $362.66 (+5.37%)
  • Bitcoin SV (BSV) $262.34 (-15.77%)
  • Bitcoin (BTC) $8,865.01 (-0.43%)
Jan 17, 2020 (Friday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto dealer SFOX announces new service for investors and wealth managers
Binance in talks with TaoTao and Z Corporation for strategic partnerships in Japan
Crypto Technicals: NEO/USD set to scale new highs, 200-DMA breakout confirms bullish trend
Crypto exchange Gemini launches own insurance company "Nakamoto"
eToro, Radar and OKCoin join Coinbase-led Crypto Rating Council
Huobi joins Blockchain Turkey Platform (BCTR)
U.S. authorities urged to investigate crypto use in funding domestic terrorism and extremism
Calibra, Anchorage, Bison Trails executives elected to Libra’s new technical steering committee
Crypto Technicals: LTC/USD bounces off 5-DMA support, eyes next major hurdle at 200-DMA (65.43)
U.S. lawmakers seek tax exemption for crypto transactions under $200
Former CFTC Chair launches Digital Dollar Project in partnership with Accenture
Crypto Technicals: ETH/USD resumes upside after brief pause, eyes 23.6% Fib at 174.83
Uzbekistan to launch national mining pool and licensed cryptocurrency exchange
Crypto Technicals: BTC/USD extends sideways below 200-DMA, bias bullish
Garanti BBVA conducts real-time blockchain transfers using Takasbank's BiGA Platform
Jan 16, 2020 (Thursday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Litecoin Foundation, BlockFi partner to bring more liquidity to users
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.