Binance exchange is the fastest growing exchange platform. The platform has been trending daily for every new innovation. Currently, Binance exchange is preparing to venture into South Korea market.
South Korea is the world leading crypto market and number one cryptocurrency friendly country with lots of cryptocurrency lovers. Binance exchange if successful, will be another crucial step toward establishing a global presence in the world of cryptocurrency.
Binance Exchange Enters South Korea:
There’s no doubt Binance decision to move South Korea is as a result of the market surge in cryptocurrency in the Korean Republic. Also, South Korea trade volume tops in the world especially bitcoin and other coins.
According to Binance CEO Changpeng Zhao, he stated: South Korea will be a “critical” market. International firms entering South Korea must pass a lot of rigorous processes and sometimes, prevented from operating in the country. Binance exchange CEO, Zhao is optmistci they will scale through as reported by business Korean news . Zhao was quoted saying Binance can “enrich” the cryptocurrency community in South Korea.
Recently, Binanace exchange enabled support for the Koreans. This portrays the the hint of moving into the Korean Republic. Only time will tell if such moves will be successful. The demand for cryptocurrency is still growing daily and Bianace moving into Korea will need to more expansion and adoption of cryptocurrency. If Binance is successful, it will definitely open the door for other crypto exchange platforms to venture into the market. A situation that will likely play out and lead to competition.
Nothwistanding the fact that South Korea the highest bitcoin and altcoin traders, Binance may find it dificult to penetrate the market. This is because the traders seem to be already addicted to the local platforms. In then other hand, Binance exchange is world top upcoming exchange and probably enjoy such priviledges to have clients.
Also, Binance exchange is the only platform that have not been hacked as compared to most exchanges in South Korea. A SITUATION THAT MAY GIVE THEM AN EDGE.
W’ll upadate this further as soon as we get new information.
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