Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Binance LCX has launched a fiat-to-crypto exchange in Liechtenstein, offering trading between Swiss francs and the euro against major cryptocurrency pairs.
Binance LCX, a joint venture between Binance and Liechtenstein Cryptoassets Exchange (LCX), has announced the launch of a fiat-to-crypto exchange, according to a press release published August 16.
The new trading platform will be located in Liechtenstein and offer trading between Swiss Francs (CHF) and euros (EUR) against major digital currencies pairs, subsequently adding more trading pairs following regulatory approvals.
Binance will provide and support the platform, while Binance LCX will lead customer support, regulatory compliance, and government communication. Adrian Hasler, Prime Minister of Liechtenstein, commented the launch:
"We are confident that Liechtenstein's existing and future legal framework and practice provide a robust foundation for the Binance LCX and other blockchain companies to provide exceptional services here in Liechtenstein."
Liechtenstein has taken a friendly and open stance towards cryptocurrencies and blockchain technology, echoing developments in neighbouring Switzerland known for its âCrypto Valleyâ in the canton of Zug.
Recently, Liechtenstein introduced a new blockchain law which provides legal and regulatory certainty for businesses and customers. In an interview with Cointelegraph, Hasler said that the country sees great potential in blockchain technologies, adding:
âBlockchain can serve as an important base for a variety of economic applications, covering not only payment transactions but broader financial solutions, industry use cases and general applications.â
In March, Liechtenstein lending institution Bank Frick began offering âdirect investmentâ and cold storage for five cryptocurrencies; Bitcoin, Bitcoin Cash, Litecoin, Ripple and Ethereum. The service is aimed primarily at âprofessional market participants and financial intermediaries.â The bankâs Chief client officer Hubert BĂŒchel claimed that their crypto-related services âare in demand from companies across the whole of Europe.â
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.