Crypto Giant Binance Starts Yuan Trading in China Homecoming
- New service hosts trades of yuan for Bitcoin, Ether, Tether
- Binance is returning two years after exiting lucrative market
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Binance Holdings Ltd. was quick to leave China after regulators started to crack down on digital currencies. Now, the exchange behemoth has returned to its lucrative home market to host over-the-counter yuan trade.
The startup launched a peer-to-peer trading platform that lets users trade Bitcoin, Ether and Tether against the Chinese currency. Founder and Chief Executive Officer Zhao Changpeng said in a tweet the P2P service will start with China, then expand into other regions.