One of the world’s biggest crypto exchanges Binance wants to open new trading platforms all around the world. On the platforms, one shall be able to trade directly with fiat currency, which is regular currency. This makes it easier to make deposits and withdrawals from the exchange.
At a crypto event in Singapore, Zhao Changpeng, CEO of Binance, announced that they will launch five to ten new crypto exchanges where you can trade with fiat currencies.
“Fiat is still where all the money is in… and we’ve got to open that gate”, said Zhao Changpeng at the event, according to Coindesk.
Sold his house in 2014 to buy bitcoin
Getting a question if Zhao Changpeng was concerned about Binance’s future, he responded by telling a story about when he sold his house in 2014. He used that money to buy bitcoin. However, after he bought bitcoin, the price dropped from $600 to $200. Nevertheless, he did not sell his bitcoin, and after that decline, Zhao Changpeng says he is no longer worried, Coindesk reports.