Binance, the world’s leading cryptocurrency exchange, is reportedly planning to launch a fiat-to-cryptocurrency exchange in South Korea. The information comes from a news report at CryptoGlobe.
According to press, this is what the founder and CEO of Binance said regarding the project:
We do not know the details related to the establishment of the Korean branch. We are working with local partners, but we do not know the details.
The exchange is currently on the lookout for a compliance officer based in South Korea, an act that also speaks about the future intentions of Binance to open operations in the country.
Again, according to Crypto Globe there were rumours that Binance was one of several countries looking to open an exchange in South Korea as early as January 2019.
If Binance opens a fiat-to-crypto exchange in the country, this will be the fourth in a row for the exchange. Just this month, Binance launched a crypto-to-fiat exchange in Singapore, a project partnered by Vertex Ventures China and Vertex Ventures Southeast Asia and India.
The other two such exchanges are Binance Uganda and Binance Jersey. The former one supports BTC and ETH pairings in Ugandan shillings or UGX. The latter one: EUR and GBP pairings for ETH and BTC.