Binance To Launch Korean Crypto Exchange on Binance Cloud

Binance Unveils Binance KR Crypto Exchange

Binance KR will integrate BKRW, a BEP-2 stablecoin backed by South Korean Won (KRW). Binance KR is the first platform to launch deploying Binance Cloud, an infrastructure solution for customers and partners to launch their own digital asset exchange, leveraging Binance’s technology, liquidity pool, and security.

As the first global use case of the Binance Cloud solution unveiled by Binance on February 17, Binance KR leverages the core functionalities of Binance’s global exchange platform, offering the market’s most robust matching engine, state-of-the-art security, custody and risk controls, and the market’s deepest spot trading liquidity.

The first phase of the Binance KR launch allows local users to register for an account to trade the following cryptocurrencies: BTC, ETH, BNB, BKRW, soon followed by USDT and BUSD. In addition, users will also be able to easily convert South Korean Won into BKRW stablecoins, which can then be used for trading.

Binance KR’s launch comes with news of Binance Ltd.’s acquisition of BxB Inc., the fintech company behind KRWb, the world’s first KRW-backed stablecoin. Binance previously announced that it had formed a partnership with BxB to work together to be fully compliant while bringing mass-market crypto services to South Korea.