- Binance enters the Korean market with Binance KR, a trading platform deploying Binance Cloud for better user experience.
- Following the launch on April 1, users will be allowed to register and deposit funds.
- Supported cryptocurrencies include BTC, ETH, BNB, and BKRW
Binance, the company behind the largest cryptocurrency exchange by trading volume and user has revealed plans to launched Binance KR, a cryptocurrency exchange platform to serve the Korean users on April 2, 2020. User registration and deposits of funds are expected to kick off on the same day of the launch.
Binance KR first to deploy Binance Cloud
The new trading platform, Binance KR becomes the first to deploy Binance Cloud; “an infrastructure solution for customers and partners to launch their own digital asset exchange, leveraging technology, liquidity pool, and security.” Binance Cloud was started to ensure that platforms have access to the core functionalities of Binance global exchange.
The initial face of Binance KR, will see digital assets such as Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB) and BKRW (stablecoin pegged to Korean Won). The second phase will see the addition of Tether (USDT) and BUSD to the list of supported digital currencies. A statement by Binance CEO Changpeng Zhao said:
We are pleased to provide a digital platform for users in Korea to bring the trading depth, security and transaction speed of Binance.com to Binance KR. Our decision to list BKRW trading pairs will allow us to seamlessly connect crypto to South Korea Won in order to expand our local services.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
PancakeSwap loses nearly 3% value intraday as the DEX crosses $1 billion in trade volume
Decentralized exchange (DEX) PancakeSwap (CAKE) announced in an official tweet that it has crossed $1 billion in trade volume on the Layer 2 chain, Base. CAKE on-chain metrics support the thesis of a recovery in the DEX token’s price.
Shiba Inu hits new milestone, over $9 billion worth of SHIB tokens burnt
Shiba Inu (SHIB), the second-largest meme coin in the crypto ecosystem, recently hit a milestone in the volume of tokens burned. Shiba Inu has burnt over 410.72 trillion SHIB tokens since the inception of the burn mechanism in the project, worth over $9 billion.
Dogwifhat crashes 60%, but here's why you should not buy WIF yet Premium
Dogwifhat (WIF) price shows a slowdown in the bearish momentum as it sets up a potential range. This development could lead to a good buying opportunity from a long-term perspective.
XRP struggles to overcome $0.50 resistance, SEC vs. Ripple could enter final pretrial conference
XRP is struggling with resistance at $0.50 as Ripple and the US Securities and Exchange Commission (SEC) are gearing up for the final pretrial conference on Tuesday at a New York court.
Bitcoin: BTC’s rangebound movement leaves traders confused
Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established.