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Amid China's blockchain push, Binance announces Beijing office

Friday 1 November 2019 09:55 CET | News

Binance, a Malta-based cryptocurrency exchange, has announced opening an office in Beijing, according to CoinDesk.

The new outpost will join Binance’s current mainland China office in Shanghai. The move follows the announcement of Chinese president Xi Jinping outlining China’s new blockchain ambitions. Binance believes the Chinese central bank is having a positive impact on the crypto industry. This comes just one year after China’s censorship firewall blocked access to the Binance website.

Moreover, executives from Binance have publicly stated the exchange is working with multiple governments on an upcoming stablecoin project called Venus. The exchange sees a ‘few million dollars a day’ worth of volume from Chinese users, especially via the peer-to-peer functionality that became available in China earlier in October 2019.

Nevertheless, an increased focus on serving Chinese users doesn’t mean the company is working with authorities on products or services beyond the Venus stablecoin project and compliance efforts, CoinDesk concluded.
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Keywords: Binance, cryptocurrency, stablecoin, Bitcoin, blockchain, crypto, China
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: China
This article is part of category

Blockchain & Cryptocurrencies