Copy link
Increase text size
Decrease text size
Link copied

Crypto exchange Binance eyes Beijing for new office following China’s blockchain push: Report

Fri, 01 Nov 2019, 10:14 am UTC

Following the recent endorsement of blockchain technology by Chinese President Xi Jinping, cryptocurrency exchange Binance is reportedly going to open an office in Beijing.

Two anonymous sources familiar with the matter told CoinDesk that the new office will join the company’s current mainland China office located in Shanghai.

While China is going big on blockchain and even banning articles that say blockchain technology is a scam, the country still has restrictions on cryptocurrencies in place. Last year, access to the Binance’s website was blocked by China’s censorship firewall.

That said, it is currently not clear as to what Binance CEO Changpeng Zhao’s plans are with the new office.


In September, Binance made an investment in Chinese crypto and blockchain-focused news portal, Mars Finance. It marked Binance’s first strategic investment in China.

In a Twitter video, Zhao recently said that the exchange is seeing rising trading volumes from Chinese users, particularly following the launch of the peer-to-peer functionally, available only for iOS users, last month.

“We can expect more things to happen from China,” Zhao said, adding that a lot of blockchain projects have become much more active in the country now. “Luckily, thanks to that, our China p2p volume has grown tremendously…we are seeing like a “few million dollars a day” in trading volume on average…”

He further said that he expects the trading volume from Chinese markets to be high. Zhao said the China p2p platform currently supports four cryptocurrencies – BNB, BTC, ETH, and USDT.

He believes China will move “very strong” in the sphere of blockchain. He said:

“I don’t have anything that’s not public…I don’t have any private information…All of my readings are from public sources.”

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,402.23 (-3.03%)
  • Ethereum (ETH) $162.61 (-3.07%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $323.92 (-6.19%)
  • Bitcoin SV (BSV) $256.38 (-15.77%)
  • Bitcoin (BTC) $8,402.23 (-3.03%)
Jan 23, 2020 (Thursday)
13:26
Amun lists inverse bitcoin ETP on SIX Swiss Exchange
12:32
World Economic Forum creates framework to help central banks design and deploy CBDC
11:52
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:52
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:24
Four Belgian banks including BNP Paribas, ING to share corporate KYC data using blockchain
10:34
Crypto Technicals: XRP/USD dives over 4%, more weakness on break below 21-EMA support (0.2231)
10:34
Dubai's government-owned utility company and Siemens organize blockchain lectures and seminars
10:18
SportsCastr to reward viewers with own cryptocurrency 'FanChain'
09:48
Hacker Noon deploys first blockchain feature after leaving Medium
09:10
Hyperledger launches community group to leverage blockchain to meet climate goals
08:32
Crypto Technicals: ETH/USD extends weakness below 200H MA, eyes 110-EMA support at 159.52
07:41
Deloitte sees Facebook's Libra as “bold new proposition” to create global financial infrastructure
07:06
Square receives U.S. patent for cryptocurrency payment network
07:00
Crypto Market - Asian Session Wrap - 23rd January 2020
06:50
Kik technical advisor to appear for deposition in ongoing Kin ICO case with SEC
05:40
Grayscale continues to support ethereum classic developers
05:40
Crypto Technicals: BTC/USD turns bearish near-term, eyes 21-EMA support at 8318
05:01
Central banks of Hong Kong and Thailand complete DLT trial for cross-border funds transfer
Jan 22, 2020 (Wednesday)
13:12
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
13:12
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft