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Jyoti Singh
Mar 31, 2020
by Jyoti Singh

Binance To Introduce Binance KR in Korean Market

Binance KR
Binance, which is considered to be the world’s largest crypto-exchange is all prepared to enter the Korean market with Binance KR.  On March 31, 2020, the exchange announced that in the coming few days, Binance KR would be available in the Korean Market for trading.

Binance KR To Be Found On Binance Cloud

According to a report, Binance KR would be introduced on Binance Cloud, which came in the market in February 2020. The platform helps those users who wanted to launch their own cryptocurrencies.

Binance KR would help the users to find a trading spot where they could easily buy and sell the assets without changing the price. It would also offer the most strong matching engine and most advanced security, custody and risk controls.

The Binance KR exchange would lend its support to a stablecoin, Binance KRW (BKRW), which is already backed by South Korean Won (KRW). The exchange allows the trading of Bitcoin, Ethereum and Binance Coin (BNB).

The stablecoin backed by Binance KR would help the Korean traders to easily convert the fiat currency of the country into BKRW.

Exchange Will Be On Floor By April 02

Binance Japan

 

Since very long the Binance had been planning to expand its business in Korea but was not being able to do so until this week.

Recently the CEO of Binance, Jiho Kang, said,

“We are committed to bringing a fully compliant world-class digital asset exchange to the Korean market via Binance Cloud and BKRW. We are honoured to partner with Binance to work towards our mutual mission of increasing the freedom of money together.”

Binance KR would start the registration on April 02, 2020, from 10 A.M. The users can also start depositing in Binance KR from the same day only but the trading would be allowed from April 04, 2020. The exchange in its announcement mentions that till April 09, 2020, it would not allow the withdrawal of any cryptocurrency.

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    Binance To Introduce Binance KR in Korean Market
    Jyoti Singh
    Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.