Crypto exchange giant Binance and Liechtenstein Cryptoasset Exchange (LCX) announced the creation of a new trading platform, which will offer trading in Swiss francs and the euro against major pairs of digital currencies.
According to a new press release published on August 16, the new exchange will be created by a joint venture called Binance LCX, where Binance will provide technical support to the platform, and the new joint venture will take care of all other operational tasks. The new company said that they are trying to create a team of 10-15 people in their office in Liechtenstein and that the hiring will begin immediately.
I believe that Binance LCX will create a stable and reliable trading platform for professional and permanent investors. I hope that the Binance LCX will introduce new standards in terms of usability and security, and we are very pleased to bring the appropriate for the development of our team in Liechtenstein said Changpeng Zhao, founder and CEO of Binance, in the statement.
Adrian Hasler, Prime Minister of Liechtenstein, commented on the launch:
We are confident that Liechtenstein’s existing and future legal framework and practice provides a solid foundation for Binance LCX and other companies to provide exceptional services here in Liechtenstein
Liechtenstein has already made a name for itself in the blockchain industry and is currently considering a promising regulatory framework known as the Liechtenstein Law on the Blockbuster. In addition, at the beginning of this year the Bank of Liechtenstein Frick became the first in the country who added trade in crypto-currencies to its product portfolio. The service is focused primarily on professional market participants and financial intermediaries. The main client of the bank, Hubert Büchel, said that their services "are in demand among companies across Europe.