Cryptocurrency exchange Binance, which recently opened a bank account in Malta, is developing a crypto-to-euro trading service on its local platform.
A Binance representative confirmed to Cointelegraph that the exchange plans to enable fiat-to-crypto trading this year through a separate Malta-based entity.
As the second-largest cryptocurrency exchange by 24-hour trading volume (over $1.5 billion at press time), Binance clarified that its main platform (Binance.com) remains crypto-to-crypto only. Fiat integration will be exclusive to its Malta-regulated exchange, likely launching with BTC/EUR pairs.
Key Developments:
- Malta Expansion: Binance established offices in Malta after receiving a warning from Japanese regulators in March.
- Banking Access: CEO Changpeng Zhao ("CZ") confirmed a Maltese bank account is operational, a critical step for fiat support.
- Global Fiat Gateways: Future plans include fiat-crypto services in Uganda and other Asian markets.
- Jersey Partnership: Binance signed an MoU with Jersey authorities to open a 100-person office and exchange in the Channel Islands.
- **$1B Crypto Fund**: Launched in June to partner with 20 institutional investors (minimum $100M AUM each).
FAQ
Q: Will Binance.com support fiat deposits?
A: No. Fiat trading will only be available via Binance’s Malta-based exchange.
Q: Which fiat currencies will Binance Malta support initially?
A: Euro (EUR) pairs, starting with BTC/EUR.
Q: Why did Binance choose Malta?
A: Malta’s proactive crypto regulations and banking access made it a strategic hub for EU compliance.
👉 Discover how Binance is shaping the future of crypto liquidity
Q: What’s the significance of Binance’s Jersey expansion?
A: It positions Binance to serve UK/European markets with a regulated fiat gateway.
👉 Explore Binance’s global regulatory strategy
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