Malta-headquartered crypto exchange heavyweight Binance is set to make its first move into the Korean market, via establishing is Binance KR branch to offer services. 

Specifically, Binance Cloud will be the platform that facilitate the release of Binance KR – particularly named to be fit for traders in the region – and reportedly comes with “the market’s deepest spot trading liquidity, most robust matching engine, and most advanced state-of-the-art security, custody, and risk controls.”

The new branch will also offer facilitation features for Binance KRW (BKRW) – the Korean Won (KRW)-pegged stablecoin. Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB) are the crypto coins available for trading. 

With the facilitating support for the stablecoin, the fiat-BKRW conversion process will be simplified for local traders. 

Binance KR is going to open its business not long after the acquisition fintech firm BxB – the parent company of KRWb – was finalized by Binance.

“We are committed to bringing a fully compliant world-class digital asset exchange to the Korean market via Binance Cloud and BKRW. We are honored to partner with Binance to work towards our mutual mission of increasing the freedom of money together.” Jiho Kang – head of Binance Ltd., reportedly claimed. 

Binance KR will widely be available for signing up and to support deposits activities starting April 2 at 10:00 AM KST, and trading from April 4.