Baptized Binance KR, the cryptocurrency exchange platform will open its doors on April 2, 2020.
On his blog, Binance announced the imminent launch of its new crypto-exchange Binance KR, killed last summer, South Korea.
The platform will allow to trade Korean won against KRW (BKRW), a stablecoin issued by Binance and backed by the Korean won. Users will then be able to trade KRW (BKRW) against Bitcoin, Ethereum, Binance Coin and soon from BUSD and USDT.
We are pleased to provide a digital asset platform for users in Korea. List trading pairs BKRW will seamlessly connect crypto to the South Korean won, ”said le CEO of Binance, Changpeng Zhao.
The arrival of Binance on the South Korean market follows its investment in the stablecoins emitter BxB. We also learn that Binance KR is "the first use case" of the solution Binance Cloud launched recently by the cryptocurrency giant.
We are committed to bringing a fully compliant, world-class digital asset exchange to the Korean market via Binance Cloud and BKRW, "added Jiho Kang, co-CEO of Binance LTD.
Last month, South Korean lawmakers voted an amendment aimed at imposing rules for local cryptocurrency exchange platforms. This new regulation should help legitimize and develop this already sprawling industry in South Korea.
According to sources familiar with the matter, Binance is also said to be finalizing the acquisition of the popular website CoinMarketCap.
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