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 .
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 Binance, 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 used before, meaning progress may be slow. Binance CEO Changpeng Zhao sees it as a challenge, but one that will stimulate further competition in an already highly competitive crypto market.