The CEO of Binance, Changpeng Zhao (CZ) is embarking on a new European-focused strategy, which will involve opening an office in London, according to a Coindesk report.
In an interview that touched on everything from Facebook’s Libra project to Binance’s insurance strategy, the charismatic executive said the idea of a London office was given a further shot in the arm by “very positive” crypto regulations recently issued by the U.K.’s Financial Conduct Authority.
CZ said, “I hope we can open an office in London very soon. There is more regulatory certainty now which is good. I thought the U.K. regulation was very neutral and very positive; they were a little bit strict on the derivatives part which I hope they will be more flexible about.”
Binance is the latest blockchain related company to commit to operating in London, despite the UK’s imminent departure from the EU and all the uncertainty surrounding that event. During last week’s Binance meet-up in London, held at Canary Wharf’s Level 39 fintech accelerator, CZ had this to say about Brexit: “I don’t think it will affect things here very much. The UK has a very old and very strong economy. And if anything, [Brexit] is likely to make people adopt crypto more, which is good for us.”
Ian Allison writing for Coindesk said, “Indeed, by making foreign exchange harder, Brexit could theoretically enhance the appeal of borderless, frictionless value-transfer systems — and if the pound takes a beating, it conceivably could make some investors consider bitcoin as a store of value.”
CZ on Libra
Binance has allegedly been in talks with Facebook about listing Libra on its exchange. CZ aid Binance has not officially joined and explained his interest first and foremost is listing coins with lots of users. He commented, “As an exchange, we should stay neutral. So we don’t really comment on coins; we don’t like or dislike coins. We just provide liquidity. It’s most likely Libra will get a large number of users, no matter how much people hate it.”