Binance gained a new foothold in Europe. Check out the latest reports below.
Binance secures new foothold in Europe
The top crypto exchange by trading volume Binance is securing a new foothold in Europe as it gains access to the fourth largest market in the Eurozone.
According to a new press release, the Bank of Spain recently approved Binance’s subsidiary, Moon Tech Spain, as a virtual asset services provider (VASP).
Binance can now offer exchange and custody services in the country.
Quim Giralt, director of Binance Spain, says the company plans to expand operations extensively throughout the country.
“Following this registration, we will significantly expand our team and operations in Spain to make our services more accessible to everyone. Over the coming years, we will be hiring local talent to serve the Spanish-speaking market and helping to grow the local crypto ecosystem.”
The Spanish registration comes on the heels of Binance receiving regulatory approval in France and Italy in May.
It’s also important to note the fact that Binance has continued to expand its operations despite the crypto bear market.
Binance chief executive Changpeng Zhao said in late June that the company is currently eyeing 50-100 new deals.
“We actually see a lot of opportunity in the market. So we’re increasing our hiring, increasing our [merger and acquisition] activities, we’re looking at lowering fees on our platforms so that we make it easier for our users during this period.”
BItcoin could explode by more than 500%
A popular crypto strategist and trader doesn’t expect Bitcoin (BTC) to reach new all-time highs for possibly another two years.
Pseudonymous trader Kaleo said that Bitcoin will trade in a sideways range, also known as being in a crab market. This will happen before exploding to a new all-time high possibly after the early-2024 halving.
According to Kaleo, the king coin is likely to range between $16,000 and $30,000 for the next five months before breaking out upwards.