As cryptocurrency continues to remain relevant around the globe in many countries, it has brought about a need for fiat-to-crypto exchanges. Thanks to a joint venture involving Binance and Liechtenstein Cryptoassets Exchange (LCX), customers will be able to trade Swiss Francs and Euros for various digital currencies. The launch of the new exchange was officially announced on Thursday via a press release. The report says that Binance will operate the exchange platform technology while the Liechenstein office will handle customer support, government communication, legal requirements, and other functions to help things run smoothly. For now the exchange will only offer trading pairs with Swiss Francs (CHF) and Euros (EUR) against specific cryptocurrencies. However, there are plans in the future to add more trading pairs as regulation allows for them. It's mentioned that Binance LCX is looking to begin hiring qualified individuals for their team which should have anywhere from 10 to 15 people in their Liechtenstein office. Liechtenstein is a country which has already taken a liberal approach in terms of welcoming cryptocurrency and blockchain as part of an emerging technology. The country has put a blockchain law in place to allow for regulation over businesses and customers. The country believes there is strong potential for the blockchain technology and even has a major lending institution that offers "direct investment" as well as cold storage for Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ethereum. Bank Frick offers the investment options with their Chief client officer Hubert Buchel saying services "are in demand from companies across the whole of Europe." In the United States, the Bittrex exchange began to allow US dollar (USD) fiat trading back in May. Initially, the exchange allowed for customers to trade USD for Bitcoin (BTC), Tether (USDT), and TrueUSD (TUSD) cryptocurrencies. While major US banks and investment firms have yet to truly embrace digital currency trading, one has to think it could be something that comes in the future as the overall stance towards crypto becomes friendlier.
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