Binance LCX is a joint venture between Binance and LCX which just launched.
Binance is the world’s leading crypto exchange by volume, and it’s providing and maintaining the tech for the new Liechtenstein-based fiat-to-crypto exchange.
Binance LCX’s responsibilities
Binance LCX will manage customer support, legal requirements, due diligence, KYC, AML and government communication.
The exchange offers trading between Swiss Francs (CHF) and Euros (EUR) against major crypto pairs, and it will also add trading pairs subject to regulatory approval.
Professional investors need a reliable fiat channel to invest into crypto assets.
The new fiat-crypto gateway is designed so that it can attract professional and regular investors.
“Professional investors need a reliable fiat channel to invest into crypto assets,” said Monty C. M. Metzger, CEO of LCX.
Liechtenstein offers both market and passport access to neighboring countries.
“Blockchain technologies are laying the basis for an entirely new industry. We are confident that Liechtenstein’s existing and future legal framework and practice provide a robust foundation for Binance LCX and other blockchain companies to provide exceptional services here in Liechtenstein,” Prime Minister Adrian Hasler said.
The country has one of the higher grow domestic products per person in the whole world, and it’s also introducing the Blockchain Act Lichtenstein which is a comprehensive and holistic legal structure for the emerging token economy.
The Prime Minister also took the stage at a press event to honor the new exchange and to express his support for blockchain and crypto innovation on behalf of the government.