Binance Jersey, a Fiat-to-crypto exchange, has partnered with Caspian, as per the news that emerged on Aug. 14.
Caspian — a Galaxy Capital-backed institutional trading and portfolio management platform — revealed the existence of a partnership, stating that it will aid improve crypto investors’ security and a lower entry barrier for the crypto market.
Chris Jenkins, Caspian’s managing director, made the following elaborations:
“I am delighted for us to partner with Binance Jersey, a substantial step forward in helping move the wide adoption of cryptocurrency trading forward for the institutional market in Europe […] As increasing numbers of institutions engage in this emerging sector, there is an increasing need for a reliable fiat-to-crypto exchange.”
Also, Jon Day — Binance Jersey CEO — stated that he believes the order and execution technical system at Caspian will make trading go faster:
“Our clients can now benefit from faster order execution and additional features including a larger suite of customizable market data and parent-and-child order slicing, to name but a few.”
Motivation behind Binance Jersey
At the beginning of 2019, Binance formed Binance Jersey to initially launch fiat-to-crypto support for pounds and euros with major cryptocurrencies such as Bitcoin and Ether.
Wei Zhou, — Binance chief financial officer, — stated later in June that the growing use cases for stablecoins as well as the increase in of utility awareness that stablecoins offer led to the issuance of a pound-backed proprietary stablecoin. As a result, Binance Jersey was reportedly motivated to continue pursuing more fiat-pegged stablecoins and add them.