World number one exchange by adjusted volume, Binance, has launched a new platform that allows GBP and EUR trades called Binance Jersey.

Established in 2017, Binance is currently first among several exchanges with over 400 markets available for trading and is expanding into the European market with this latest addition.

Currently, the Binance Jersey exchange pairs the euro (EUR) and British Pound (GBP) with Bitcoin (BTC) and Ethereum (ETH). Trades can be done within the United Kingdom and Europe.

Existing trade pairs on Binance Jersey includes BTC/GBP, BTC/EUR, ETH/GBP, and ETH/EUR.

This new platform provides an additional and reliable fiat-gateway by a renowned cryptocurrency brand for users in the UK and European countries.

In a PR, Binance CEO Changeng “CZ” Zhao described the new exchange platform as one that provides “freedom from looming Brexit uncertainty.”

“Expanding the cryptocurrency exchange markets with fiat currencies in the European region is opening new economic opportunities for Europeans as well as freedom from looming Brexit uncertainty where the pound and euro are also in concern,” he noted. “Through Binance Jersey, we want to help bridge the crypto-fiat channel for Europe and the U.K. as part of our global expansion to support broader cryptocurrency adoption.”

Binance Selects Jersey For Europe Expansion

Jersey was selected by Binance for expansion into Europe due to its “highly developed digital infrastructure”, according to Wei Zhou - CFO at Binance in an interview with Coindesk.

Binance selected Jersey for its highly developed digital infrastructure, a robust regulatory framework, and world-class financial services sector.

The establishment of Binance Jersey on the British island is as a result of a partnership between Binance and Jersey’s government-backed economic development agency, Digital Jersey.

Binance Jersey Gets Overwhelming Response

After hours of announcing, Binance CEO took to Twitter to express the overwhelming nature of registrations on the new exchange. He tweeted:

Binance also run a promotion where the first 5,000 users to register and complete their KYC requirements will be rewarded with 20 EUR and an 80% referral commission program for a limited time. This also sparked more registration as people raced to catch some prizes.

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