By Ifaenyi Egede (Nigeria)
Binance CEO Changpeng Zhao has said in an interview that he is expecting binances’ venturing into the south Korean market to be one of the biggest investment of the leading crypto outfit in the world. Binance announced earlier this that it had entered into the south Korean market with the Binance KR initiative. They stressed that it will not only be the first exchange service to run on the cloud but will be the first exchange service that would be zero-fee enabled. The CEO also stressed on the need to favour markets that do not have a strong patronage thereby extending their services towards those angles.
The start date for entering the South Korean crypto market has been scheduled to be on the 6th of April and Binance will do well to lend to make all it’s services available to Binance KR from the inception of the service. This in turn means that investors and crypto traders can enjoy quality services like the roboust matching engine, spot trading liquidity and state of the art maximum security of the assets owned.
Changpeng Zhou also noted that his cloud services would make available more opportunities to Fiat exchangers. This service would be made available after Binance announced that it had secured the acquisition of fintech startup BxB inc. BxB Inc is the first company to launch the first Korean won backed stable coin (KRW).
Changpeng Zhou was quoted in an interview as saying ” We are pleased to provide a digital asset 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 the South Korean won in order to expand our local services”.
Even though it looks like the CEOs entering into the Korean market coupled with it’s first use of the cloud service in South korea wouldn’t be as expected for the crypto company. Binance has made things easy to be able to slot seamlessly into the market thereby launching a zero trading fee on all markets for the first three months of entering South Korean market. Looking set to carry along alot of Korean based investors, they have announced that they will start trading with BTC, ETH, BNB and BKRW.
Even though Binance is currently one of the world leading crypto outfit, it will use it’s venturing into the crypto market to amass more fans and maybe dominate the world.
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