Global cryptocurrency exchange Binance has announced plans to expand its business to South Korea , the world 's leading cryptocurrency market . While the expansion will be a major step for China , it is likely going to be a long process due to relatively high regulation surrounding setting up a business in the country . Similarly , domestic traders tend to be loyal to companies they have known before , so progress may be slow . Binance enabled support for Koreans a few weeks ago, which seemed to hint at an impending expansion to the South Korean market. Binance CEO Changpeng Zhao sees it as a challenge , but one that will stimulate further growth in an already highly competitive Asian market .
Global cryptocurrency exchange Binance has announced plans to expand its business to South Korea , the world 's leading cryptocurrency market . While the expansion will be a major step for China , it is likely going to be a long process due to relatively high regulation surrounding setting up a business in the country . Similarly , domestic traders tend to be loyal to companies they have known before , so progress may be slow . Binance CEO Changpeng Zhao sees it as a challenge , but one that will stimulate further growth in an already highly competitive Asian market .