Binance is preparing to launch a crypto trading platform for institutional and retail investors in the UK.
The platform will be regulated by the Financial Conduct Authority which regulates financial services firms and financial markets in the UK, reports Reuters.
Binance says the exchange will initially support 65 cryptocurrencies, which investors can buy or sell using pounds and euros. Investors will also have the option to deposit or withdraw their digital assets through direct bank transfers using the UK Faster Payments Service and the Single Euro Payments Area network.
Binance UK director Teana Baker-Taylor says Binance plans to offer the region more than crypto asset trading.
[adinserter block="1"]“As crypto services mature and evolve, we’re able to create new options to engage and capture interest from a wider audience with varying risk appetites, such as products that earn a yield for participation, like staking and passive savings.”
The new trading venue comes as interest in crypto assets increases among European investors. A recent survey from Fidelity Investments found that 45% of institutional investors in Europe now own digital assets like Bitcoin.
