Binance, the world's largest cryptocurrency exchange, may enter South Korea. Launched in July last year, Binance is currently the largest one of its kind in terms of trading volume.
Binance CEO Changpeng Zhao attended the Blockchain Partners Summit in Seoul on July 21 to 22. During his keynote speech, he stressed the importance of the South Korean market, saying that his company would enrich its community in the market.
Earlier, Binance added a Korean language service to its cryptocurrency exchange and official website.
The number of South Korean Binance users is not that large yet. Still, it is one of the most favorite foreign cryptocurrency exchanges for South Korean traders. In addition, its popularity is rising with the Ministry of Justice maintaining a hard-line stance against local cryptocurrency exchanges to the point of mentioning their shutdown.
According to industry sources, Binance is excellent in terms of security and reliability and its ICO principles are thorough and, as such, it can become a strong contender against South Korean cryptocurrency exchanges once it enriches its local community and invests in blockchain projects in South Korea.
A Binance official said whether Binance will enter Korea in the future depends on progress in Korean policy.