Binance Enters the South Korean Crypto Market by Launching Binance KR

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Binance Enters the South Korean Crypto Market by Launching Korean Crypto Exchange

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  • Global cryptocurrency exchange platform Binance is entering the South Korean Cryptocurrency platform with the launch of Binance KR.

According to a blog post by Binance, the company is planning to launch Binance KR and is paving its way in the South Korean market. The crypto trading platform is launched on Binance cloud which was unveiled last month.

Binance KR will adhere to the “core functionalities of Binance, such as the market’s deepest spot trading liquidity, most robust matching engine, and most advanced state-of-the-art security, custody, and risk controls.”

The crypto to crypto exchange will also support Binance KRW (BKRW) which is a stablecoin backed by South Korean Won (KRW). Binance KR will allow trading to take place in Bitcoin, Ethereum and Binance’s signature coin, Binance Coin (BNB). It will be followed by Tether (UTSD) and Binance USD (BUSD). Moreover, by using BKRW stablecoin the South Korean users will easily be able to convert their fiat into BKRW.

Changpeng Zhao, CEO of Binance said that,

“We are pleased to provide a digital asset platformZ said: for users in Korea to bring the trading depth, security and transaction speed of Binance.com to Binance KR. Our decision to list BKRW trading pairs will allow us to seamlessly connect crypto to the South Korean won in order to expand our local services.”

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