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Binance Announces Opening of Local Office in Romania

  • The trading platform’s customer assistance will also be available in Romanian.
  • Binance began doing business in Bulgaria, which is to the south of Romania, last year.

Changpeng Zhao (CZ), CEO of Binance, the largest cryptocurrency exchange in the world, announced the opening of a local office in Bucharest, Romania, while on a tour of Eastern European countries. In addition, beginning in the month of October, the trading platform’s customer assistance will be available in Romanian.

The movement is a part of Binance’s strategy for growth in the region of Eastern Europe. With 120 million users from all around the globe, the exchange already covers a sizable chunk of the crypto asset market.

CZ stated:

“We want to go global by playing locally in multiple markets. I think Eastern Europe is extremely important,” stressed the Chinese-born Canadian crypto entrepreneur.”

Part of Regional Expansion

Binance began doing business in Bulgaria, which is to the south of Romania, last year. The cryptocurrency trading platform has been actively extending its operations into new, important markets in Eastern Europe and the former Soviet region, including Russia, Ukraine, and Kazakhstan.

There is potential for development, as observed by Zhao, since interest in cryptocurrencies has increased in Europe due to inflation and increasing energy costs. He sees tremendous potential for cryptocurrencies in areas like payments.

Binance’s CEO, Changpeng Zhao, met with Romania’s Prime Minister, Nicolae Ciuca, and Minister of Digitalization, Sebastian Burduja, in the capital city of Bucharest. Lawmakers and bureaucrats are taking notice of the rapidly expanding crypto sector. But Zhao argues that regulations alone aren’t enough to completely do away with dangers.

The deteriorating economic circumstances brought on by the armed situation in Ukraine led to a precipitous decline in market volumes this year. The report notes that CZ is more concerned with expanding the crypto user base than with predicting when the current bear market would finish.

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