Binance LCX, a joint venture between Binance and LCX, launched today. Binance, the world’s leading cryptocurrency exchange by volume, is providing and maintaining the tech for the new Liechtenstein-based fiat-to-crypto exchange, while Binance LCX will manage customer support, legal requirements, due diligence, KYC, AML and government communication.
The exchange offers trading between Swiss Francs (CHF) and Euros (EUR) against major cryptocurrency pairs, and will add trading pairs subject to regulatory approval.
The new fiat-crypto gateway is designed to attract professional and regular investors. “Professional investors need a reliable fiat channel to invest into crypto assets,” said Monty C. M. Metzger, CEO of LCX. Liechtenstein, at the heart of Europe, offers both market and passport access to neighboring countries.
Liechtenstein, like Malta, is also establishing itself as a blockchain-friendly region with a clear regulatory framework to attract entrepreneurs and innovators.
Says Prime Minister Adrian Hasler, “Blockchain technologies are laying the basis for an entirely new industry. We are confident that Liechtenstein’s existing and future legal framework and practice provide a robust foundation for Binance LCX and other blockchain companies to provide exceptional services here in Liechtenstein.”
With one of the highest gross domestic products per person in the world, the country is also introducing the Blockchain Act Liechtenstein, a comprehensive and holistic legal structure for the emerging token economy.
The Prime Minister took the stage at today’s press event to honor the new exchange and to express his support for blockchain and cryptocurrency innovation on behalf of the Liechtenstein government.