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Binance Shuts Down Jersey Branch After Disappointing Yields
Summary: Binance, the world's most prominent cryptocurrency exchange, has announced that it will be shutting down its Jersey branch by the end of November, according to Cryptopolitan. While the branch was intended to provide fiat-to-crypto access into European markets, Binance has decided to close it due to lower-than-expected gains, dropping prices of Binance's native coin (BNC), ...
Binance, the world's most prominent cryptocurrency exchange, has announced that it will be shutting down its Jersey branch by the end of November, according to Cryptopolitan. While the branch was intended to provide fiat-to-crypto access into European markets, Binance has decided to close it due to lower-than-expected gains, dropping prices of Binance's native coin (BNC), and decreasing yields of the BNC/EUR trading pair.
Following the closure, Binance will maintain its branches in the U.S., Singapore, and Uganda, and it may even open a new branch in the UK that will be regulated by the UK's Financial Conduct Authority (FCA) and provide a new way to access European markets, according to plans anounced by the exchange in June 2020.
By Isaac Goluboff
Tags: Binance,BNC,BNC/EUR,FCA,Fiat-To-Crypto
Link: Binance Shuts Down Jersey Branch After Disappointing Yields [Copy]
