Changpeng Zhao (CZ), the founder and chief executive of cryptocurrency exchange Binance has announced that a new office will be opened in Romania. During his visit to Romania, he met high-ranking officials to highlight Binance's plans to expand its direct operations in Eastern Europe.
Binance launches Romanian-Language support this fall, Exchange CEO unveils in Bucharest
Binance, the largest crypto exchange in terms of trading volume, has opened a local office. CEO Changpeng Zhao disclosed this during his visit to Bucharest as part of a regional tour. Starting in October, the trading platform will offer a Romanian version its support service.
This move is part Binance's plan to expand in Eastern Europe. Binance already has 120 million users worldwide who use it to trade and buy various digital currencies.
Its founder, Profit.ro, stated that they want to be global and play in multiple markets. The Canadian-born crypto entrepreneur stressed that Eastern Europe was extremely important.
Binance opened operations last year in Bulgaria, Romania's southern neighbour. The crypto exchange has expanded its presence on other major Eastern European markets as well as countries in former Soviet space like Russia, Ukraine, and Kazakhstan.
Zhao pointed out that rising energy prices and inflation have drawn attention to cryptocurrencies in Europe. This means there are potential growth opportunities. Zhao believes that the crypto market is still in its infancy, and anticipates that cryptocurrency payments will become more and more popular.
Bucharest was the location where Binance's chief executive met Prime Minister Nicolae Ciuca and Sebastian Burduja, Minister of Digitalization. Regulators have been focusing their attention on the rapidly developing crypto industry. Zhao says that mere regulation will not eliminate these risks.
Due to worsening economic conditions and the conflict in Ukraine, market volumes dropped sharply this year. CZ doesn't know when this trend will stop, but he is more interested in increasing crypto users than price growth, the report states.
Are you positive that Binance will open offices elsewhere in Eastern Europe? Please comment below with your expectations.
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- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
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- 7 U.S. Code SS7 – Designation boards of trade as contract market authorities
- 26 U.S. Code SS 408 – Individual retirement plans
- Gold IRA: Add some sparkle to your retirement nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
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By: Lubomir Tassev
Title: Binance Founder CZ Announces Romanian Office as Part of Regional Expansion
Sourced From: news.bitcoin.com/binance-founder-cz-announces-romanian-office-as-part-of-regional-expansion/
Published Date: Thu, 22 Sep 2022 07:00:38 +0000