Binance to roll out a new trading platform in the United Kingdom

One of the world's largest cryptocurrency exchanges plans to launch a new trading platform both for retail traders and institutional investors in the United Kingdom. The company proceeds with its European expansion ambitions. The new exchange will be a regulated venue with about 65 digital assets available for trading at the launch. 

Moreover, the platform will support fiat, including pounds and euros, allowing traders exchange digital assets directly against traditional currencies.

Binance wants to obtain a license of the U.K. Financial Conduct Authority and operate under the supervision of the U.K. regulator to meet the rising demand for digital asset investments and regulated services in this industry.

Users will have better crypto trading experience on the platform  as they will be able to deposit and withdraw funds via the U.K. Faster Payments Service and the Single Euro Payments Area network. 

According to Teana Baker-Taylor, director of Binance U.K., the company wants to unlock investment opportunities and allow more traders to participate in the market. While the focus on institutional segment is supported by the recent statistical data that showed a significant increase in the number of institutional clients.  Since Q4 2019 their number increased by 47%, while the institutional trading volumes grew by 113% on the spot market in the first quarter of 2020.

“Interest and participation in the UK digital asset markets is growing; not just in-depth with its current participants, but also in breadth,” Taylor commented.