Global cryptocurrency exchange Binance has announced plans to expand its business to South Korea, the world's leading cryptocurrency market. Image(s): Shutterstock.com The company said it will open a new office in Seoul and that it is planning to establish an operations center for trading bitcoin futures contracts on behalf of clients from around the world. 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.
Global cryptocurrency exchange Binance has announced plans to expand its business to South Korea, the world's leading cryptocurrency market. The company said it will open a new office in Seoul and that it is planning to establish an operations center for trading bitcoin futures contracts on behalf of clients from around the world. 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.