Binance boss announces office in Romania, customer support in Romanian

Changpeng Zhao, the founder of the largest cryptocurrency broker in the world, Binance, recently visited Romania and announced the opening of a local office and a customer support service in Romanian.

The move is part of Binance’s plans to expand into Eastern Europe. The crypto broker already covers roughly half of the crypto market and has 120 million people around the world using it to buy and sell crypto.

"I think Eastern Europe is extremely important," Zhao said, cited by Profit.ro. "We want to go global by playing locally in multiple markets," he added. He also said that the ongoing inflation brought more attention to the crypto market, but that the field is still in its early adoption phase.

During his visit to Bucharest, Zhao met with Romanian prime minister Nicolae Ciucă and minister of digitalization Sebastian Burduja.

Binance and other crypto brokers around the world have been the subject of increasing regulation coming from institutions such as the US Security & Exchange Commission (SEC).

Long touted as an attractive investment in case of inflation, cryptocurrencies nevertheless joined the stock market earlier this year in their downward spiral caused, in part, by Russia’s invasion of Ukraine and the energy crisis that followed. After reaching a high point of around USD 67,000 in November 2021, bitcoin, the leading cryptocurrency, dropped to roughly USD 19,500 at present. Crypto optimists, however, believe that the market can recover and go on to wider adoption.

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