- Binance will provide and maintain the technology for the new Binance LCX, while LCX will handle the rest of the exchange dynamics.
- Binance exchange is bound to attract both professional and regular investors due to its crypto-fiat getaway.
The largest crypto exchange in the world, Binance has entered into a joint venture with LCX to launch Binance LCX exchange. Binance will be providing as well as maintain the technology for the newly launched Liechtenstein-based fiat-to-crypto exchange. On the other hand, Binance LCX is going to be managing the customer support, KYC, AML, all legal requirements in addition to government communication. According to The Daily HODL crypto news website:
“The exchange offers trading between Swiss Francs (CHF) and Euros (EUR) against major cryptocurrency pairs, and will add trading pairs subject to regulatory approval.”
Binance LCX is suitable for both profession and regular investors because it offers a fiat-crypto getaway. The chief executive officer of LCX, Monty C. M. Metzger states:
“Professional investors need a reliable fiat channel to invest into crypto assets.”
Liechtenstein, at the heart of Europe, has established itself as the center for blockchain technology. And just like Malta, it is crypto-progressive supported by clear regulatory frameworks tailored towards attracting new investors and innovators. The Prime Minister of Liechtenstein, Adrian Hasler says:
“Blockchain technologies are laying the basis for an entirely new industry. We are confident that Liechtenstein’s existing and future legal framework and practice provide a robust foundation for Binance LCX and other blockchain companies to provide exceptional services here in Liechtenstein.”
The country is among the nations with the highest gross domestic product and it is working on the introduction of the Blockchain Act Liechtenstein. This will be a complete legal structure that is focused on the emerging digital asset economy.
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