Binance, Malta-based the world’s largest cryptocurrency exchange, in partnership with Liechtenstein Cryptoassets Exchange (LCX) have announced the launch of fiat-to-crypto trading platform in Liechtenstein.
Binance LCX will allow users to trade between Swiss francs and euros against major cryptocurrency pairs. More trading pairs will be added once a regulatory framework is implemented in the world’s fifth smallest country by population.
The government of Liechtenstein welcomed the emergence of a new crypto company in its jurisdiction. It is known that 10-15 people will work in the company’s office.
Binance LCX has been launched for attracting professional and regular investors. LCX CEO Monty C. M. Metzger says “professional investors need a reliable fiat channel to invest into crypto assets.”
In March, Liechtenstein’s Bank Frick began offering “direct investment” and cold storage for Bitcoin, Bitcoin Cash, Litecoin, Ripple and Ethereum. Bank Frick Chief Client Officer Hubert Büchel claims “demand from companies across the whole of Europe”.