Binance Wants to Launch a Branch in Korea

One of the largest cryptocurrency exchanges in the world, Binance, is considering launching a branch in South Korea.

Korea's issue

The head of Binance Changpeng Zhao confirmed talks about the matter during an interview.

We work with local partners, but we do not know the details yet.

However, there is already a company in Korea called Binance LLC. The company, whose CEO is Jiho Kang, offers, among others, stablecoin based on a Korean won. The representative of the Chinese exchange said in an interview that they are aware of the existence of this company. They are holding talks on this matter, but no decisions have been made yet. Regarding the readiness to launch a branch in Korea, Binance is looking for an employee for the position of a compliance officer.

We are looking for a compliance officer who will support our development plans on all fronts. We are mainly concerned about KYC, customer onboarding and anti-money laundering and anti-terrorism policies. The place of work will be Seoul.

- informs the exchange on its website.

The development continues

Changpeng Zhao's exchange continues development plans all around the world. US citizens who have been using it have recently been disappointed because soon they will be barred from trading. Nevertheless, everyone is waiting for the creation of Binance.US. BAM Trading Services is responsible for the project and Zhao declared that he would not take up any position himself, but at the same time ensured close cooperation between both companies. The main goal is to provide even greater transparency to US citizens who use the exchange.