Binance, one of the world’s largest Bitcoin exchanges has announced plants to set up exchanges on almost every continent by 2020.
During the conversation with CoinDesk’s Pete Rizzo, Zhao indicated that by this time next year, he wants the company to launch five to 10 fiat-to-crypto exchanges, with ideally two per continent.
These plans falls in line with Binance’s current efforts to roll out an exchange in Singapore that supports local fiat-to-crypto trading services.
During the fireside chat, Zhao confirmed that in the first quarter this year, Binance made $200 million in profits, although the assets are all in cryptos. He added that the profits in Q2 declined due to a market drop, with $150 million.
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