Blockchain

Binance teams with LCX to launch fiat-to-crypto exchange in Liechtenstein

The world’s largest cryptocurrency exchange, Binance, has partnered with Liechtenstein Cryptoassets Exchange (LCX) to launch a fiat-to-crypto trading platform in Liechtenstein.

Binance LCX will allow users to trade between Swiss francs and euros against major cryptocurrency pairs. The plan is to add more trading pairs once a regulatory framework is implemented in the world’s fifth smallest country by population.

A robust regulatory framework

“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,” says Liechtenstein Prime Minister Adrian Hasler.

Benefits of blockchain

Hasler believes “blockchain can serve as an important base for a variety of economic applications, covering not only payment transactions but broader financial solutions, industry use cases and general applications”.

Liechtenstein’s Bank Frick began offering in March “direct investment” and cold storage for five cryptocurrencies, including Bitcoin, Bitcoin Cash, Litecoin, Ripple and Ethereum. Bank Frick Chief Client Officer Hubert Büchel claims “demand from companies across the whole of Europe”.

Olivier Acuña

Olivier has been writing for over 30 years. He has been based in six countries working for major news outlets including the Guardian, UPI & AP. He has covered massive earthquakes, presidential elections, immigration, and taken photos standing in the middle of shootouts between drug cartels, gone undercover to investigate organised crime, interviewed presidents, former presidents, heads of international organisations.