Binance’s CZ: Like It or Not, Facebook’s Libra Coin Is Poised for Mass Adoption

 

The takeaway:

• Binance CEO Changpeng Zhao (“CZ”) hopes to open a London office “very soon” as the crypto exchange turns its focus to Europe. Brexit won’t hurt and if anything will be good for crypto, he predicts.
• On Facebook’s Libra project, CZ anticipates practical benefits from potentially listing the coin, and also hinted at further collaboration.
• The forthcoming Binance.US is working with the usual suspects among crypto’s reliable banking partners.
• CZ calls crypto insurance a “flawed concept.” Binance instead dedicates 10 percent of its $100 million in quarterly revenues to its internal “SAFU fund.”

---

Binance, the world’s biggest and fastest-growing cryptocurrency exchange, is embarking on a new European-focused strategy which will involve opening an office in London, according to CEO Changpeng Zhao. 
The Malta-based company has been focused on Asia, but now plans are afoot to provide a deeper service within Europe, said Zhao, known throughout the crypto world as CZ. 
In an interview that touched on everything from Facebook’s Libra project to Binance’s insurance strategy, the charismatic executive said the idea of a London office was given a further shot in the arm by “very positive” crypto regulations recently issued by the U.K.’s Financial Conduct Authority. 
CZ told CoinDesk: 

“I hope we can open an office in London very soon. There is more regulatory certainty now which is good. I thought the U.K. regulation was very neutral and very positive; they were a little bit strict on the derivatives part which I hope they will be more flexible about.” 

Binance is the latest blockchain company to make a commitment to the U.K. capital in the face of Britain’s imminent departure from the European Union, which some say will do long-lasting damage to the country’s economy. 

Click here for complete news