Binance has announced a fiat-to-crypto trading platform with LCX in Liechtenstein. The platform maintenance will be done by Binance itself and a team of 15 professionals in the Liechtenstein office will manage customer support, legal requirements, due diligence, KYC and Government communication.
On Launching of the platform, Binance CEO and founder Changpeng Zhao said:
I believe Binance LCX will create a sustainable and reliable fiat-crypto gateway for professional and regular investors alike. I hope Binance LCX will drive new standards for usability and compliance for the blockchain industry, and we are very excited to bring the relevant experience and best practices to grow our team in Liechtenstein.
Monty C. M. Metzger, CEO of LCX said:
Professional investors need a reliable fiat channel to invest into crypto assets. We are excited to launch the joint venture with Binance to establish new standards for the blockchain industry.
Adrian Hasler, Prime Minister of Liechtenstein shares few words on this launch:
We are confident that Liechtenstein’s existing and future legal framework and practice provide a robust foundation for the Binance LCX and other blockchain companies to provide exceptional services here in Liechtenstein.