The CEO of one of the largest cryptocurrency exchange Binance, said that he will reveal the news of a strategic partnership with Yahoo Japan soon. The Binance is again trying to hit the Korean users by establishing its subsidiary branch in the country.
As reported by the Blockinpress, the Korean based media outlet, Changfeng Zhao said on Jan.16 that they are going to enter into a partnership with media giant, Yahoo Japan. However, the official news has not come onto screen yet, but it is expected that, on Jan.17, the news about the strategic agreement will be on air.
Binance is looking to expand its services across the countries by launchings its subsidiary platforms in the countries to hit the users of those very countries. The establishment of a Korean based subsidiary is also pre-planned as Zhoa mentioned about it earlier.
In the words of Zhoa:
We continue to work with regional partners in the commercialization of cryptocurrencies globally.
Going to establish a subsidiary branch in Korea
The plan of entering into Korea is laid out and the CEO has mentioned earlier about that. On August 16, Binance CEO said,’’ I’m glad to share the news of our entry into Korea.’’ And the news about the media giant is going to come on seen tomorrow.
In March 2018, Binance ended up its exchange services in the country because they are being warned by the government financial department: this is due to the lack of business license that is required before engaging the users in the country.
The trading platform is already planning to enter with the assistance of BXB.
Kang Ji-ho of BXB stated:
BxB’s goal is to contribute to stable industrial growth in Korea as a Korean-based company.
The underlying strategy of the Binance is to re-enter again into Korea and hit the Korean based users by establishing its subsidiary agency. As per the aim of crypto exchange, the company is striving for ‘’Freedom of money,’’