The venture, otherwise known as Binance LCX (Liechtenstein Cryptoassets Exchange) in a report published yesterday, announced the opening ceremony of Fiat-To-Crypto trading on its platform.
The venture located in Liechtenstein will offer trading between Swiss Francs (CHF) and euros (EUR) against major digital currencies pairs, and in the long run, introduce more trading pairs following regulatory approvals.
Regular duties would be shared between the two firms(i.e Binance & Binance LCX), in the sense that, the parent company (Binance) will provide support for the new venture (Binance LCX) while the new venture will solemnly look after the customer support department, regulatory compliance, and government communication.
However, the prime minister of Liechtenstein, Adrian Hasler, came out proudly to speak about the newly launched platform in the country. His speech alone reveal the amount of Joy within him following the launch of the platform in the country.
“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.”
His speech above shows that Liechtenstein has created a friendly environment and opened its arm widely to embrace the new technology, which is indeed a “plus” in this whole phenomenon.