Binance Partners With LCX To Launch Fiat-to-Crypto Exchange In Liechtenstein

Announcements, News | August 17, 2018 By:

Crypto exchange Binance has partnered with Liechtenstein Cryptoassets Exchange (LCX) to provide a fiat to crypto exchange.

The companies signed an agreement to form a joint venture called Binance LCX, a fiat-to-crypto exchange that will be located in Liechtenstein. Binance will provide and support the platform, while LCX will lead customer support, regulatory compliance, and government communication.

“I believe Binance LCX will create a sustainable and reliable fiat-crypto gateway for professional and regular investors alike,” said Changpeng Zhao, CEO & Founder Binance. “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.”

The new exchange will be offering trading between Swiss Francs (CHF) and Euros (EUR) against major cryptocurrencies pairs. Binance LCX plans to build up a team of 10-15 people for its Liechtenstein office and will immediately start the hiring process.

“Professional investors need a reliable fiat channel to invest into crypto assets,” said Monty C. M. Metzger, CEO of LCX. “We are excited to launch the joint-venture with Binance to establish new standards for the blockchain industry.”

Liechtenstein, a small European country with a population of less than 40,000, recently introduced the Blockchain Act Liechtenstein, which provides comprehensive market friendly regulation for an entire token economy as well as the long sought legal certainty.

“We welcome Binance LCX to Liechtenstein. Blockchain technologies are laying the basis for an entirely new industry,” said Adrian Hasler, Prime Minister of Liechtenstein. “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.”