Binance announced the launch of a crypto-fiat trading platform in Liechtenstein through a joint venture with LCX.

LCX plans to deploy a team of 15 specialists for its office in Liechtenstein, which will guide customer care, legal requirements, due diligence, user name verification (KYC), money laundering (AML) and government communication, and the Binance team will become the Directly support and operate the trading platform.

According to the press release, the new exchange will offer trading in Swiss francs (CHF) and euros (EUR) in pairs with important cryptocurrencies and will add more trading pairs in the future. The CEO and founder of Binance Changpeng Zhao said at the launch of the platform:

“I believe Binance LCX will create a sustainable and reliable fiat-crypto gateway for professional and regular investors alike. I hope Binance LCX will drive new standards for usability and compliance for the blockchain industry, and we are very excited to bring the relevant experience and best practices to grow our team at Liechtenstein.”

Monty Metzger, CEO of LCX, added: “Professional investors need a reliable fiat channel to invest into crypto assets. We are excited to launch the joint-venture with Binance to establish new standards for the blockchain industry.”

Adrian Hasler, Prime Minister of Liechtenstein, also welcomed the joint venture and said: “We are confident that Liechtenstein’s existing and future legal framework and practice will provide a solid foundation for the provision of exceptional services in Liechtenstein through Binance and other Blockchain companies.”