Changpeng Zhao (CZ), the founder and CEO of crypto exchange Binance, has announced the opening of an office in Romania. During his visit to the country, he met with senior officials to highlight Binance’s intention to expand its direct operations in Eastern Europe.
Binance Launches Romanian Language Support This Fall, Exchange CEO Announces in Bucharest
Binance, the world’s leading cryptocurrency exchange by trading volume, is setting up a local office in Romania, CEO Changpeng Zhao revealed while in Bucharest as part of a regional tour. The trading platform will also offer support services in Romanian language from October.
The move is part of Binance’s wider expansion plans in Eastern Europe. The exchange already covers the majority of the cryptocurrency market and is used by his 120 million customers worldwide to buy and sell various digital currencies.
“We want to go global by playing locally in multiple markets,” the founders told Romanian business news outlet Profit.ro. “I think Eastern Europe is very important,” stressed the Chinese-born Canadian crypto entrepreneur.
Last year, Binance launched operations in Romania’s southern neighbor. BulgariaThe crypto exchange is expanding its presence in other major Eastern European markets as well as in the countries of the former Soviet bloc. Russia, Ukraine When Kazakhstan.
Europe’s apparent inflation and rising energy prices have put a spotlight on cryptocurrencies in the region. This means it has growth prospects. He believes the cryptocurrency market is still in its early stages and expects cryptocurrency payments, for example, to become increasingly important.
In Bucharest, Binance’s CEO met with the Romanian head of government, Prime Minister Nicolae Ciucă, and Digitalization Minister Sebastian Burduja. The developing cryptocurrency industry is attracting the attention of regulators. But regulation alone will not eliminate risk, says Zhao.
Market volumes fell sharply this year amid economic conditions exacerbated by the military conflict in Ukraine. CZ does not know when this downtrend will end, but the report states that CZ is more interested in increasing the number of cryptocurrency users than price.
Do you think Binance will open offices in other countries in Eastern Europe as well? Share your expectations in the comments section below.
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