Binance LCX allows the exchange of Fiat to digital currencies
The exchange arose from the alliance between Binance and Liechtenstein Cryptoassets Exchange in the Principality of Liechtenstein. While the regulation is approved, transactions will be made in Swiss francs and euros
Through a strategic alliance between Binance and Liechtenstein Cryptoassets Exchange was created Binance LCX, the cryptocurrency exchange house of the Principality of Liechtestein.
According to information provided by the platform itself, it will now be possible to exchange Fiat money to digital currency. In its first stage and while regulatory measures are announced, transactions will be made in Swiss francs and euros.
Binance LCX will have among its functions to provide assistance to customers and comply with regulations established by government authorities. For its part, Binance will maintain the platform.
The Principality of Liechtestein had already introduced the blockchain technology into its financial system, following in the footsteps of Switzerland to provide greater legal security in its territory.
The country’s Minister, Adrian Hasler, has highlighted the benefits of the blockchain at the local level. As a successful first step in this regard, we can mention the offer for direct investment and cold storage of BTC, BCH, LTC, Ripple and ETH launched last March by Liechtenstein Bank Frick.
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