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Binance LCX Launches Fiat to Crypto Exchange in Liechtenstein

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According to a recent press release, Binance announced its partnership with Liechtenstein Cryptoassets Exchange (LCX) to launch fiat to crypto exchange in Liechtenstein. The Binance team is planning to take care of the technology while Binance LCX team will look after other things like customer support, KYC, AML, legal requirements, government communication etc. They are even planning to build a team of 10 to 15 people team for their Liechtenstein office. The reason that Binance partnered with Liechtenstein is because of the geographical location of Liechtenstein. It lies in the centre of Europe facilitating market access to the whole of Europe.

For now, the Binance LCX is planning to offer trading options between Euro and Swiss francs against some major digital crypto currencies pairs. Later, in the course of time, they are planning to add few more pairs gradually.

Liechtenstein's Prime Minister commented the launch "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."

Liechtenstein's Prime Minister commented the launch "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."

Liechtenstein's friendly and bold move towards blockchain technology and cryptocurrencies is also being attributed to the developments in the neighbouring country Switzerland.

Liechtenstein recently developed and introduced a new law for businesses and customers for legal and regulatory certainty. Adrian Hasler, prime minister of Liechtenstein in an interview mentioned that Liechtenstein and its people see the great potential in blockchain technology. He also added that this technology can be used as a potential base for a variety of industry based applications covering various other solutions in addition to payment transactions.

Adrian Hasler, prime minister of Liechtenstein in an interview mentioned that Liechtenstein and its people see the great potential in blockchain technology.

In March this year, Liechtenstein's lending institution Bank Frick started their new service offering of direct investment and cold storage. This cold storage service is allowed only for the following five cryptocurrencies for now:
Bitcoin
Ripple
Ethereum
Litecoin
Bitcoin Cash
The bank's service is focused mainly on the professional market participants and financial intermediaries. The bank's chief client officer Buchel said that their new crypto services are in high demand across all the European countries.

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