Binance LCX Debuts Fiat-to-Crypto Exchange in Liechtenstein

Binance will add another stamp to its passport book, having joined forces with Liechtenstein Cryptoassets Exchange to build a new fiat-to-cryptocurrency exchange in the European nation.

The new Liechtenstein-based exchange, dubbed Binance LCX, will support trading between the euro, Swiss franc and "Major" cryptocurrency pairs, according to a press release.

Binance, which operates the world's second-largest crypto exchange by daily volume, will oversee the back-end creation and operation of the platform.

The Binance LCX team will handle all logistical and regulatory components including compliance, KYC, customer support and liaison with the government.

"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 at Liechtenstein."

Boasting one of the highest GDPs per capita in the world, Liechtenstein is a member of the European Economic Area-not the European Union.

After years of progressive financial policy, Liechtenstein appears to be turning its eye to blockchain.

Binance does not appear to miss the significance of setting up camp in one of Europe's financial strongholds.

"Liechtenstein is the ideal location for Binance LCX to operate as it is geographically positioned in the heart of Europe and is part of the European Economic Area. Furthermore, the strategic location enables market access and passporting to the rest of Europe."

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