Binance denied reports of plans to launch a crypto-fiatnoy stock exchange in South Korea

Crypto News | Cryptocurrencies

Binance denied reports of plans to launch a crypto-fiatnoy stock exchange in South Korea

On Tuesday, July 16, information appeared in a number of media that Binance, the leading bitcoin exchange, in terms of trading volumes, intends to open another crypto-fiat platform, this time in South Korea.

The first to spread the information with reference to the local press was The Block, which quoted the CEO of Binance Changpang Zhao’s statement to the local press.
Quickly enough, however, the publication added a refutation, citing a company representative, who said that this was not true.

Around the same time, Binance is in talks with regulators in South Korea and even registered a unit in the country called Binance LLC, CoinDesk said. Also, the publication claims that the exchange has appointed the director of the unit Jiho Kang.

According to LinkedIn’s profile information, Jiho Kang is the managing partner and co-founder of the KRWb project from BXB, known as an emulator steakbloin, tied to the Korean Won.

“We are negotiating with BXB, but no decision has yet been made,” CoinDesk quotes the words of the representatives of the stock exchange again referring to the Korean press.

At the same time, the publication mentions the vacancy of the director of regulatory compliance oversight in South Korea, which the exchange posted earlier this year.

Earlier this month, Binance officially launched a crypto-fiat platform in Singapore.

At the beginning of the year, the company also opened a crypto-fiat exchange on the island of Jersey, and later in the media it was reported that similar sites are also planned to be opened in South Korea, Russia, Turkey, Liechtenstein and in Malta.