The crypto bear market has not deterred the big players such as Binance from continually expanding. Their latest announcement was the opening of a new fiat exchange in Jersey, part of the UK’s Channel Islands. What it didn’t anticipate was an overwhelming demand from the UK as a result of Brexit concerns.
Binance’s new Jersey based exchange offers fiat to crypto trading with deposits in GBP and Euros. Not expecting such huge demand during a prolonged bear market, Binance offered incentives for registration including 20 Euros for the first 50,000 to complete the KYC procedures. Binance boss Changpeng Zhao took to twitter to express his feelings on this overwhelming demand following an earlier tweet stating “One thing we do “well” is underestimating ourselves, and the market.”