Binance Jersey, a New EUR/GBP Fiat Exchange, launched yesterday and has already been overwhelmed by new registrations. With many registrants having to wait to have the their identities, or addresses confirmed.

Binance has continued to work hard, building new products and services during the current crypto bear market by launching Binance Jersey. The team at Binance made the announcement yesterday 16 January and informed the crypto and investor communities that the EURO and the British Pound (GBP) will be paired with the major cryptocurrencies of Bitcoin (BTC) and Ethereum (ETH).

CZ the CEO of Binance tweeted that:

“Binance.je is overwhelmed with registrations. There is a backlog of KYC verifications already. More resources are allocated to reduce it. In the mean time, we appreciate your understanding and patience. The registration prize is FIFO based, no worries. Just crazy!”

https://t.co/THxfdd3RD2 is overwhelmed with registrations. There is a backlog of KYC verifications already. More resources are allocated to reduce it. In the mean time, we appreciate your understanding and patience. The registration prize is FIFO based, no worries. Just crazy! — CZ Binance (@cz_binance) January 17, 2019

First 50,000 users are eligible for a 20 EURO reward

The exchange went on to incentivize new users of the platform with a 20 EURO reward for the first 50,000 who undergo the regular KYC (Know Your Customer) procedures.

“The first 5,000 users to complete Account Verification (KYC) on www.binance.je between January 16, 2019 and January 31, 2019 at 0:00 UTC will each be rewarded with 20 EUR. ”

Binance Jersey will support most countries in the European markets. The new exchange will also cater for the following countries outside of Europe:

“Argentina, Australia, Brazil, Canada, Chile, Eswatini (formerly Swaziland), Hong Kong, Israel, Jamaica, Japan, Macau, Mauritius , Mexico, New Zealand, Peru, Singapore, South Korea, United Arab Emirates (UAR) and Uruguay.”

This is not their first fiat to crypto exchange as they had previously launched Binance Uganda.

Image courtesy of Binance Jersey